Friday, December 6, 2013

Gap And Go?

The market reacted positive after the job numbers report that came out better than expected. Indices opened with a 1% gap up and the Dow and S&P closed near the high of day. Tech and small caps underperformed the former two, but Nasdaq is the only major index making new highs for the year!

All in all, bulls are still in controlling. Dips are still being bought... But will that stay the same in 2014? What about tapering? We'll see. But a Santa Claus rally is still in the books.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Not much movement in either of these. The euro closed at the 1.37-level, while oil traded between 97 and 98, just like yesterday. Metals were breakeven (copper), small gain (gold), moderate gain (silver).

Have a great weekend!

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