The markets have been on a wild ride today. Initially lower, they recovered to the flat line only to be slammed to new lows by comments from European leaders Sarkozy and Merkel. Since the initial sharp sell, stock markets have recovered but are still lower. Talk of a tax on financial transactions and balance budget amendments freaked the markets out slightly. Bank stocks are lower today along with much of the rest of the market. Rare positive plays are HPQ and DELL. The closing prints on the market will dictate whether or not the markets will see further selling tomorrow. A slightly lower or flat close would be bullish while a close at the lows of the day would be very bearish.
