Sure there was good earnings reports this morning, but initial claims looked bad. European good news, on manufacturing and services index and retail sales, trumped US Initial Claims this morning and yesterday’s unusual uncertainty. And it sounds like European bank stress tests are coming in better than expected. I think the give-away on that is just what the euro has been doing today. We’ll see the conclusion on those tests tomorrow.
The S&P has made it well above the 50ma which should now act as support. A trip up to the 200ma seems plausible….at least the first attack.
Some high-powered reports for Friday: F HON IR MCD VZ, but no economic news…at least not from the US. Now Europe should be full of it…so to speak. 
Sometimes, entranced by the screens, watching equities, options and futures change colors, charts moving in a wave, and indicators pointing in every direction, I just have to scream....
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