Markets Gaped Up Significantly At The Opening
From Econintersect Combined RSS Feed
January 2, 2013 - 10:16am
Opening Market Commentary For 01-02-2012
SP500 Futures gaped up from 1423.41 to 1440.00 earlier and that WILL be filled sometime in the near future indicating a declining market. Adding to this, the USD gaped down from 79.86 to 79.65 leaving a quiet a hole to fill and the FX markets are quicker in filling up the gaps.
The DOW opened up 230 points but under relatively light green volume with flashes of red being thrown in. Considering the gaps in many of the averages I have my red-flag waving machine at full throttle as I watch somebody or something move the markets up unrealistically. If the charts mean anything in today's world of reading the tea leaves, there is a tiny bit of room for the averages to advance further. Not much, but some as the small caps are butting up against the next resistance providing enough evidence that we could see very soon a 'correction' or the continuing 'Sec...
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