By Nicholas Santiago on February 16th, 2010 3:21pm Eastern Time
The United States was closed yesterday for the President's Day holiday. Often after a long weekend the markets will have a slight holiday hangover which generally leads to a light volume trading day. Many Asian markets including China are closed for holiday as well. However, Europe was open today and the problems there are far from resolved. After the Greece debt problem finds some resolution the other nations that are in financial turmoil will want the same type of treatment.
Today's action could very well be the calm before the storm. Stay tuned as this is options expiration week and volatility should pick up throughout the week. As for today action when the dollar declines and the volume is very light it usually makes for an upside bias(today's rally day). Just look at most rally before and after holiday weekends and you will see how often this scenario plays out.
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