Friday, November 29, 2013

Take It Easy

A 'holiday trading day' since the session stopped at 1PM instead of 4PM. So not much value in a day like today and we basically closed breakeven on most major indices. Only tech outperformed with 0.5% gains.

Everything went higher in the first hour of the session, but indices (except tech) collapsed in the last half hour. No need to panic, Monday we could just as well be seeing new highs as a pullback...

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro keeps trading near the 1.36-level.
Oil had a big run higher towards $94 (almost +2% at that point) and then a normal pullback. But after the pitclose, oil pulled back even more. A sudden drop brought the gains back to only 0.5%.
Metals all ended with gains between 0.9% and 1.5%.

Have a great weekend!

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