Markets Open Higher, Falter Then Recover

Opening Market Commentary For 01-17-2013 Premarkets were up substantially this morning partially because the USD took a real beating last night but the futures peaked around 9 am and showed signs of a deteriorating situation. This morning the USD is headed back up indicating to me that we will see some volatile moves today. The financial reporting for this morning was mixed and not so good. Initial Jobless Claims and Building Permits are down but Continuing Claims are up. Gold is down and the oils and copper are up all of which indicates Mr. Market will see higher highs today. Markets did open higher setting new highs for the year, but remain in the flat range. The red volume quickly took over and started to melt the averages off their highs and the dippers, ever present, moved the averages back up to opening levels by 10:15. Read more »Original post blogged on b2evolution.