Today's markets are starting off the New Year with a significant uptick in volatility as the Stock Index futures bolted out of the starting gate this morning only to come up lame before they got to the backstretch! A key reversal day is certainly in the making and, if the MAR05 Dow futures can post a close below 10765, this could turn out to be the beginning of the end for stocks and it's only the 3rd of January! I know that sounds drastic but the technicals are at extremes here so stocks are certainly due for a pullback at the very least. We can't wait to see if the markets can gain their footing before the close.
Dale F. Doelling
Chief Market Technician
Trends In Commodities
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