The Market Looks Tired

The market opened up this morning, but VERY quickly stalled. It dropped down a bit and then rallied up to its high of the day again, but with no real strength.

Now the Dow is down about 15. The S&P and Nasdaq fell into negative territory before the Dow. The market looks a little tired to me. I expect a short correction, which is no surprise after the rally we had last week.

I day trade the CME frequently (or have I mentioned that before?). The CME opened up this morning, hit short term resistence at about $282, and stalled. I decided to not get involed this morning and am happy I did, as the stock is down almost $7 right now. I will watch it for an afternoon rally, but do not think I am likely to trade it (or anything else) today.