This morning we have the SPX 500 about 13 points higher than yesterday’s close of the S&P 500. Today is a US Bank holiday, but volatility can still occur without much volume or significant follow through. We may see a short term rally up to the 1,261 area, which was the close for November 7th. Rumors out of Europe will continue to drive markets, but from a fundamental perspective the debt crisis will not be resolved overnight. Sentiment could remain bearish as long as we remain under the 1,290 area.
