Morning Thread

Evan found a decent hotel. I'm jealous.

Looks like the markets have digested the S&P downgrade of the EZ 17.  Angela Merkel is jawboning with apparent success.  While it appears the strategy continues to be the chorus line can can kick the bond vigilantes are backing off for the time being. 

We did not close above the 200 day simple moving average on the SP-500 yesterday and that is an issue in my mind.  Clearing that hurdle and then consolidating for a couple of days would set the stage for an attempt at 1300.  Of course with Timmy G. across the pond we should expect the markets to continue to be headline driven.  Profits should be protected and a constant vigil is required.  If that's not your style then this week may not be much fun.  Good luck to all.