Thursday, February 27, 2014

Highest Close Of The Week

Most indices closed on/near the high of the week (except for tech which was lagging a bit today). And for the S&P500 and small caps, this was even the highest close of the year. Looking bullish so far, but bulls would like to see a break higher, out of this congestion zone from the last four days.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro was weak in pre-market, but bounced back to end the day practically breakeven near 1.37.
Oil is still sideways since 02/19, near $102.
Metals were little changed, minor losses for copper and small gains for gold and silver.

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