The SPX 500 rallied overnight up to the 1,271 area and now sits about 5 points lower than the close of the S&P 500. As Europe begins to shift political leaders around, the markets may begin to focus back on the US. Next week on November 23rd we have the deadline for deficit commission proposals to cut $1.2 trillion. Equity markets may continue to whipsaw from the 1,225 to 1,280 range as many focus on rumors and politics. If a gridlock within US parties continues along with soaring Italian bonds, we could see a large rally in the USD. Remember to wait for confirmation and proper leverage before enter a position.
