Markets Open Flat And Directionless

Opening Market Commentary For 01-29-2013 Another day of indecision coming up for investors as morning futures are showing up in the negative column. Still well within the up trend channel Mr. Market can't decide to what to do while the HFT algo computers try to melt the markets up. Could be a correction any day now as we have witnessed the averages melt up since the beginning of January and a breather is in order. Markets opened flat, mixed and directionless on light red volume. Inverse ETF's were melting up as the $VIX was easing down. Oil was creeping up and the USD was dropping like a rock. Many confusing signals that may or may not get sorted out today. By 10 the directionless market turned sour as most averages headed south in a big way with the negative report of the Consumer Confidence but didn't go below the premarket lows. Going to be an interesting session. Read more »Ori...