Monday, January 27, 2014

Is... This... The... Bottom?

No blogpost last Friday due to illness. But we're back online!

The title says it, and so do all the daily charts. Is this the bottom? Because that is what everybody wanted to know on Twitter today. So my guess is: it's probably not! But I wouldn't rule it out. The move was fast and deep in only a few days and some major indices are sitting at interesting support levels. To be continued... (don't you just hate it when you're favorite TV-show ends with those words?!)

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro traded sideways under 1.37 and is possibly making a bullflag.
Oil pulled back after a good run last week.
No love for metals, they dropped just like equities. Copper was down 0.5%, gold and silver lost more than 1%.

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