The S&P 500 will of course gap up right back over the 200 day moving average - and this will be the second time in as many weeks that the index has closed below that level.... and it has meant nothing. Which makes one feel like they are flying blind.
Aside from that another day of rumor mill watching ....
p.s. weekly job claims came in at 390,000 which is the second week in a row below 400,000. Need to see this number below 375,000 to start getting some better monthly employment data.
Edit 8:50 AM - Italian yields are back down below 7%... roughly 6.78%. The 10 year Italian bond is now trading like an internet stock on a day to day basis. One wonders if the ECB came in with guns blazing today buying on the secondary market.