everybody is still on tippie toes with the spain bank failure, until some big buyer decides its ok, any rally is shorted into heavily.
copper was very bullish at times today, techs couldn`t pull the rest of the market up, and tech capitulated at the end.
I think when Geitner visits Europe, hopefully markets take this that the Global economy is coordinated in a good way.
It might help Europe if they lowered rates, throw some more liquidity out in the European Markets.
All in all, nobody wants to be the first to step their toe in the water here, everybody is waiting for leadership...a catalyst if you will.
Hopefully Europe will think of something that will serve as a catalyst for instilling a little confidence in the future.