In the Doldrums

After two days of flat action we saw a slightly bigger trading range today, unfortunately it was mostly to the downside. The market gapped up to start the week and then traded steadily lower all day. There wasn't any panic or a rush for the exits. It was just a slow and steady drip lower as market players were unable to find a good reason to buy.

Technically, the market became a bit overbought and dealt with overhead resistance, so some selling is probably healthy. The market needs to consolidate the gains of the last two weeks, which, ironically, were created when politicians made optimistic comments about the chances of a fiscal cliff deal....131 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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