Day Summary

Markets pulled back today, on surface markets seem to be running out of steam now. It can consolidate at these levels at its 8 ema and build steam to go higher or it may sell off from here. I think quite a few people including big money is right now sitting on the side lines to see which side the market would go and lackluster volume may be indication to that. Of course the path of least resistance is down and there is some massive over head resistance but as they say wall st likes to climb the wall of worry. Its probably time to stay away or being very nimble in trading and getting in and out at a faster speed. I am on sidelines and avoiding taking any big positions. Dollar dropped again today and euro gold, oil , nat gas and Ag commodity rallied.