Markets Sitting on the fence: Opening Play for Thursday 1/9/14

January 08, 2014

 

Pointless trying to predict the manner in which a market will breakout of a coil. In the past, I have seen it fake one way and then come out the other side, or, have a straight line directional breakout move.  No major policy changes are expected tho Draghi’s comments are expected to be on the dovish side.  I have often found the ECB meeting days to have more volatilty than FOMC days. It is never the news itself, but the markets reaction to the news that is unpredictable.

1-8-2014 10-04-25 PM

 

Daily Tradesheet, new website

 

Market participants sitting on the fence.