We got a nice pop to start the new year, and while I am horribly bearish about the prospects for the market this month, it's not that surprising we start with a nice rally. This morning the lines drew themsleves on the chart, and it looks like the next level of resistance is going to be 1289. XLF and XLE are the leading sectpors this morning, trailing are XLU and XLP. Both the Nasdaq nad Russell 2000 are leading. Oil , gold, and treasury yields are up big. I will take a wild guess and say the Euro is rallying against the dollar.
I have 226 new highs, but once again few breakouts: KEX, FBIZ, and RATE are the only ones getting any volume. I have nothing reporting this morning. If you haven't done so already, be sure to join in on the
Market Watch trading game, which starts today. There are 5 players currently in it, and it should be fun.
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