Thursday, November 7, 2013

Twitter Top?

I'm sure this won't be the only blogpost referring to a twitter top... But while the first trading day was a great success for TWTR (+73%), indices got hit hard. After going higher early in the session, major indices all reversed. Except for a temporary bounce just before lunch, this was a nasty trendday down. Losses between 0.9% and 1.8% aren't necessarily indicating a crash, but these losses are far bigger then we're used to lately.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro went down hard after the ECB rate cut. But a nice bounce on 1.33 to close back above 1.34.
Oil pulled back, but still 'outperforming' indices. Still looking for a bounce here, but beware of a possible bearflag!
Metals: copper was just above breakeven. Gold and silver went down 0.9-1%.

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