Thursday, December 26, 2013

Thank You Santa

What a nice rally these last 5-6 trading days. Indices went steadily up, but are now hitting overbought levels. Time to get cautious! Although in this thin holiday trading, higher levels are certainly not impossible. But a small reason to worry is the fact that small caps are lagging all other major indices.

5m-chart SPY:


Daily charts DIA, SPY, QQQ and IWM:
No daily charts due to technical error with data, some candles not shown correctly.

Euro, oil, metals
The euro is still consolidating under 1.37. It's nearly make or break time!
Oil moved above $99. $100 is natural resistance, then comes 102-103.
Metals did good today. Copper and gold were up +0.5%, silver gained almost 1.5%!

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