Market Open Down On Light Volume Continuing To melt Down

Opening Market Commentary For 01-28-2013 US: Durable Goods Orders tops forecasts and the premarket was up accordingly. I really thought the markets were going break through the resistance barriers and make a grab for the gold ring. So I was surprised to see several of my proprietary indicators signaling red flags so early in the session. Of course we all know this is a crazy market, but just the same I am looking for some sort of reality here. Markets opened down but has remained in the uptrend channel of the last 5 days. So it was difficult to determine market direction early in the session with volume being on the light side. By 10 am investor participation was still on the light side, $RUT had closed its opening gap up and red volume was picking up. By 10:15 the up trend was in jeopardy of being broken downward, but we are going to have to wait for a while longer to ascertain any tren...