Wednesday, March 12, 2014

Lower Low And A Bounce

Most major indices tried to fill the gap from the previous week. Tech and small caps actually succeeded and just like other indices, they bounced well of the lows. Seems like this is another dip bought by the bulls!

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro closed just above 1.39 and looks like it wants 1.40.
More downside for oil, down another 1.9% and now at $98! That's already down 7% since last week's high!
Metals: a small drop for copper but big gains for gold (+1.4%) and silver (+2.3%).

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