Tuesday, December 10, 2013

Small Caps Weakness

Most major indices had a little bit of a pullback and another narrow range today. Small caps however are lagging big on other indices. In the past, that often was a buying opportunity. What will it be this time?

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro went all the way to 1.38 and then pulled back a little bit. Four days of gains in a row now.
Oil had a great breakout higher, over $98 and eying the 100-level.
Copper didn't move much, but gold gained 1.7% and silver rallied about 3%!

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