Wednesday, March 5, 2014


Not much movement while indices consolidated yesterday's gains. Which is bullish, cause you don't want to see the market rip higher day after day. We're already in overbought territory. Small moves higher will build a longer term and much more sustainable bull market than another fast rally higher.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro didn't move much, closing almost breakeven.
Oil on the other hand pulled back (that's two days in a row), down another +2%.
Metals were all near breakeven. Small losses for copper and silver, small gains for gold.

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