A real holiday trade going on today. Indices went higher on very low volume, which also explains the narrow range during the whole of the session. This could repeat a couple more times in the next two weeks. With most major indices at record highs, all looks good going into year end.
5m-chart SPY:
Daily charts DIA, SPY, QQQ and IWM:
Euro, oil, metals
The euro is doing a dead cat bounce, so it seems. Still under 1.37 and the pattern resembles a bearflag.
Oil pulled back 0.5%, but is basically consolidating, digesting recent gains.
Metals were mixed with copper slightly green, gold down little and silver up 0.5%.
I won't be able to write a blogpost tomorrow, Christmas dinner and all that.
So see you guys back on Thursday, Happy Holidays!
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