Monday, November 11, 2013

Veterans Day - Close The Market?

Today was Veterans day, and lots and lots of traders are apparently on a break. Major indices traded in a very tight range (could also be because of the big move higher from last Friday). Maybe it's worth considering closing the market next year on Veterans day. Not much happening anyway. Look for yourself at the chart below, the 5m-chart of SPY. The range from 11.30 until the close of the market was just over 20 cent!

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro managed to bounce back to the 1.34-level. Meanwhile, oil got over $95. Both could see some upside the next few days. But if so, beware of a dead cat bounce.
Metals: copper moved sideways, just like major indices. Gold and silver were down moderately.

No comments:

Post a Comment