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SPDR S&P 500 ETF Message Board

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  • matthew_and_january matthew_and_january Nov 27, 2011 8:42 PM Flag

    Why are we up?

    'Merkozy' comments that they are working on expedited plans for Eurozone integration and reforms which could be announced as early as this week. Implication is that if approved, ECB role could be expanded in terms of bond buying / money printing. Probably enough upside uncertainty to cause a short covering rally this week, given how oversold we are. Not sure this impacts the longer term downtrend.

205.06-1.10(-0.53%)3:40 PMEDT