We have seen this before. The bulls run it up on even perceived bad news, fund managers chase performance cracks / bubbles appear and fear swoops in and lowers the boom. Oversold markets develop as traders strive for price discovery and two sided tradeable markets. The Euro Zone continues to lead the headlines as global growth, jobs, just plain and simple stability of some sort. Good news could lend more support and further demise abroad could continue to weigh on the equities in the current environment. Pre-market talk of the ECB buying Spanish debt gave support and now we look forward to the Beige Book and earnings.
MrTopStep, futures, equities, earnings, debt, Beige Book
**Filmed on the trading floor at the CME Group. Produced by MrTopStep Productions.