Monday, January 6, 2014

Bearish Engulfing Candlesticks

All in all, indices didn't move much lower. But on the daily charts, we see bearish engulfing candlesticks for the Dow, S&P500 and small caps. So I'm expecting lower prices tomorrow. Thus far, the bulls are very resilient and not giving up just yet.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro bounced a bit and is back above 1.36.
Oil fell even more, but 92-93 should be first support.
Metals didn't move much, all ended

close to breakeven.

No comments:

Post a Comment