Monday, April 28, 2014

Weird Action

What a strange day. The major indices all opened above Friday's closing levels. The Dow and S&P500 even made a higher high before everything came tumbling down. All indices made lower lows, but after lunch a huge bounce followed. Except for small caps, everything went green again. This results in a weird candle on the daily chart. Volumes also were very high!

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro is trading at 1.385 and tried to get to 1.39, the high of the last couple of weeks.
Oil is holding above $100.
Metals all went mildly red, losing 0.5% or little more.

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