Monday, February 10, 2014

Running Out Of Steam

After a nice bounce half a week ago and two consecutive days of rallying, indices are starting to run out of steam. Some consolidation or a small pullback would be welcome and healthy if we want to see this rally continue. A bit of a concern for the bulls is how much small caps are lagging the other major indices at this point...

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro and oil closed almost breakeven.
Metals: copper was barely red, silver a little in the green and gold was closing at the highest point since November last year.

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