Tuesday, January 7, 2014

Gap Higher

Indices gapped higher and closed back near the top of the range they formed the last 8-10 trading days. Tech and small caps were leading and we might see more upside tomorrow. Not expecting new highs just yet, maybe Friday on the NFP-numbers, who knows!

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro seems to have found a bottom near 1.36.
Oil also bounced, but only little. Short-term, still lower prices possible.
Metals: while copper closed breakeven, gold lost 0.5% and silver even 1.5%.

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