Markets Open Up, Slide Right On Falling Volume
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January 10, 2013 - 10:07am
Opening Market Commentary For 01-10-2013
Premarkets were up again this morning and not at all unexpected. U.S. Jobless Claims rose, unemployment in Greece is up, ECB's Draghi says economic weakness to extend into 2013 and it appears that not much has changed.
Markets opened up but flat and then started a slow melt down. The current highs for the morning HAVE NOT gone above the sideways trough started 6 sessions ago. The upper resistance is a substantial barrier and not like to be penetrated with out a serious fight from the bears. I doubt that anything exciting will be forthcoming today. Tomorrow on the other hand may be another story.
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