Wednesday, November 20, 2013

Slow Pullback

Major indices were trading slightly green when the Fed-minutes came out at 2PM. The first reaction was 'sell' and the market kept going lower. But no harm down, we're down only 0%-0.3% with the Dow being the biggest loser and small caps actually best of the class for once.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro took a pretty ugly hit, down 0.8% and giving up on almost half the gains the currency made in the previous 8 sessions. 1.33 is next support.
Oil is still going sideways, still no bounce... Getting more and more bearish by the day.
Ugly action in metals. Copper was down mildly, but gold and silver took a +2% hit.

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