Thursday, December 12, 2013

Intraday Bounce, But Weak Close!

Indices went down again, but they managed to stage a rally during lunch time. However, in the last hour of the session the market pulled back again towards the low of the day. No real edge here, although we're getting oversold (on a short-term point of view anyway).

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro finally pulled back after 5 days of gains. Now trading at 1.375.
Oil was going sideways another day, breakeven.
While copper also traded breakeven, gold and silver lost big. Gold was down over 2%, silver lost 4%!!

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