Equities Show lack Of Direction, Averages Remain Flat
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January 4, 2013 - 12:37pm
Midday Market Commentary For 01-04-2013
By noon the markets were still at the crossroads of indecision. Equities have shown a lack of direction in midday trading during this Friday session, as traders are obviously reluctant to make any significant moves. The major averages are lingering near the unchanged line after ending the previous session about even.
McDonalds (MCD) was hovering just below its 200 DMA along with Apple (AAPL) having decided to continue its downward journey. These are just several of the many bearish indicators of overall market health and should be watched closely. The DOW, NASDAQ, Russell 2000 and the 500 seemed to have reached a major resistance and are unable to move any further.
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