Tuesday, April 29, 2014

Follow Through

Indices made more gains today - nice follow-through action after yesterday's big intraday turnaround. The Dow and S&P500 are not far from 2014 highs but tech and especially small caps still have a long way to go!

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
And the euro is back near 1.38... This 1.38-1.385 is a big magnet for almost 3 weeks now. Expect a bigger move soon.
Oil went up to $102 but couldn't hold the gains. It closed just in the green near $101.
With indices doing well, there was no love left for metals: gold breakeven, silver down 0.5% and copper losing 1.1%.

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