Monday, December 19, 2011

ES Futures: Draghi and Financials Drag Market Down 12/19/11

A cautious market found resistance at its 0930 ET open price.

It is debatable whether comments by the president of the European Central Bank, Mario Draghi, or the recommendation to increase the disclosure requirements of large banks regarding their cash reserves dragged the market down. It is probably the combination of both.


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