It is a sleepy market, thin and a bit skittish.
Much of the concern relates to what will happen if the US cross the 'fiscal cliff.'
FOMC meeting this week with an announcement at 12:30 on Wednesday.
“Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relevant information; that the random walk is the best metaphor to describe such markets; and that you cannot beat such an unpredictable market. Well, the Efficient Market Hypothesis is no more than that, a hypothesis. Many a grand theory has died under the onslaught of real data.” Benoît B. Mandelbrot