Yesterday, the major stock indexes soared sharply higher as the U.S. bond market was closed for the Columbus Day holiday. Often, when the bond markets are closed the stock markets will rally higher as the bond markets are not there to keep the stock markets in check. This morning, the S&P 500 Index e-mini futures (ES Z1) are trading lower by 9.25 points to 1181.75 per contract. Believe it or not, the world is awaiting an important vote by the Slovakian parliament over the European Financial Stability Facility (EFSF). The bottom line, Greece is broke and as soon as the European Union and the rest of the world accept it the better off we will all be. Traders should expect another volatile trading day.
