Like Watching Paint Dry
Are market players waiting around for Congress to resolve the fiscal cliff, or for Friday's employment number, before they do anything? I ask because it sure felt like no one was interested in trading much Thursday. In fact, the market was so dull that I kept waiting for someone to tweet, "Never short a dull market," but the phrase never appeared in my Twitter stream.
As far as statistics are concerned, we have both good and bad news. On the positive side, once again, was Nasdaq breadth as measured by volume -- i.e., upside minus downside volume. This indicator has now eked out a higher high vs. last week, while the index itself is at a lower high....523 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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