Wednesday, May 7, 2014

Bounce Of The Lows

After a gap up, the major indices all went to the low of the week and beyond (except for the Dow, perfect double bottom if these lows hold). Indices all printed hammers, green ones for the Dow and S&P, but tech and small caps are still lagging (tech closed with a small loss).

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro went basically sideways. Oil on the other hand advanced well over 1%, back above $100!
Metals all went lower, with gold and silver hit the hardest, down almost 1.5%.

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