The Dollar is up, 78.780 (+0.310). Treasuries are holding quite firm at 130'240. The ECB lowered rates back to the record low to 1.00%, offered banks unlimited cash, but did not initiate new bond purchases. Gold has tripped up a bit, but nothing game-changing at this point. Taking a look at the weekly for large-cap equities (S&P 500 E-mini), one can see the slow but steady upward Europe hope rally (rising channel). Today's action appears to have rejected new highs, but there has been no significant confirmation of a break in this very short-term time frame.
In terms of the individual stocks front, I will be looking at some emerging market issues. Brazilian metals miner VALE looks to be hanging around the 52-week bottom at 22.42. Brazilian oil giant Petrobras PBR bounced up a little but lagged the broader market. Today it took a 3.84% plunge to 27.10. Chinese oil offshore driller CNOOC CEO is at 193.68, which is actually around the top of its recent range. It currently yields around 2.9%
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