Mon, 1/9/12 1:41 PM – Big Move Likely Coming in Markets

For the last week the stock market has bumped its head on the same level (1280-85 on the S&P 500). On the other hand, it refuses to drop much.

The longer this goes on the more pressure builds up to power a big move either up or down. The recent trend has been up and usually that means the stalemate gets resolved to the upside, but not always. The US economic news has been good lately but there is a lot of overseas headline risk in the markets right now and one just can’t make strong statements in that situation.

Gold is following the stock market as it has for months but is down -0.4% today, oil is down over a percent and bonds are generally higher across the board.