Once again, bond yields in Spanish, Italian, and French debt are surging higher. This tells the world that the European financial system is in serious trouble. Many traders and investors are expecting the European Central Bank (ECB) to become more like the Federal Reserve and start to print money in order to bailout the European Union banks. This morning, the S&P 500 Index e-mini futures (ES Z1) are trading lower by 1.00 point to 1230.00 per contract. Traders should be prepared for another volatile trading session. Yesterday, the major stock indexes plummeted sharply lower in the final hour of the day. That late day decline signals market weakness and traders should be prepared for erratic action today.
