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Markets Rally Early Despite European Woes, Can It Hold?

This morning, the S&P 500 Index e-mini futures (ES Z1) are trading higher by 9.25 points to 1207.00 per contract. The move higher in the futures market comes despite a downgrade in Italy's credit rating by the credit rating agency Standard & Poors. Last night, the Chinese central bank also stopped foreign exchange swaps with French banks such as Societe Generale, and BNP Paribas, and Credit Agricole. These are all negative events for the markets, however, somehow the futures are trading higher. Traders should expect more volatility today as these markets do not seem to be out of the woods by any stretch.   ...Full vid