Thursday, March 20, 2014

Impressive Comeback

After a volatile day on Fed-news yesterday, the market gave an impressive response. Indices made it back to this week highs and look ready for more upside. A couple more days of consolidation wouldn't hurt though. Nice setup so far... But only valid with a strong close above Tuesday's highs.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro continued the path taken yesterday: down! It's now trading under 1.38 and dropped over 1% in two days. Ouch! Thanks Yellen.
Oil couldn't hold on to yesterday's small gains, down 0.6% today.
Metals all lost, but gold was down only little. Copper and silver went 1.5% lower.

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