Friday, January 10, 2014

I Was Wrong

Dead wrong! I'm talking about me saying yesterday that indices would finally break out of their ranges. But even with lousy NFP-numbers, most major indices are still trading at the same levels they did all week. Although some (S&P500 & small caps for example) ended near the high of the week and look ready to blast higher.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro went higher on the bad NFP-numbers, up almost 0.5%.
Oil also bounced, it's about time after 8 trading days of mostly losses (8%-9%).
Metals did great as well. Copper and gold advanced 1.3%-1.5%. Silver rallied almost 3%.

Have a great weekend!

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