Tuesday, March 11, 2014


Yesterday the market printed hammerlike candles on the daily charts for the indices. Today we see a lot of bearish engulfing candlesticks. Especially the action in small caps looks weak. This was the weakest major index today, down over 1% while others lost about 0.5%.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro is still sideways, right under recent highs.
Oil pulled back another +1%, now trading right under $100.
Metals were mixed with small gains for gold and silver and a huge loss for copper (down >2.5%).

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