Back to business...
Stocks didn't do well on this first trading day of the new year. Indices dropped up to 1% (small caps => the big loser). In the end, a healthy pullback wouldn't be so bad. Indices were overbought and needed some consolidation/rest. An interesting start of the year. Will the dip be bought again, or are we finally gonna get a correction?
5m-chart SPY:
Daily charts DIA, SPY, QQQ and IWM:
Euro, oil, metals
The euro made quite a big move lower (-0.6%), now at 1.366. Oil did even worse, dropping almost 3%!
Copper was slightly red, but gold and silver did well. Gold was up over 1.5%, silver rallied about 3%.
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