The S&P 500 Index e-mini futures (ES-Z2) were trading lower, this morning, as the U.S. markets opened to the downside and stayed there through early trading. Many traders and investors are now trying to digest last week's large stock-market advance during the Thanksgiving holiday. The highly followed Dow Jones Industrial Average (DJIA) has surged by 537 points since November 16, 2012. Often, when markets rally that much that quickly they need to pullback or consolidate before trying another advance.
Greece And Spain Front And Center
Today, the problems in Europe regarding Greece and Spain are still front and center. Greece is looking for more financial aid and possibly some debt forgiveness. Spain just held elections which could cause more turmoil in the region. Either way, traders should watch equities such as iShares MSCI Spain Index (ETF) (EWP), iShares MSCI Italy Index (ETF) (EWI), National Bank of Greece (ADR) (NBG), iShares MSCI Germany Index Fund (ETF) (EWG) and the iShares MSCI Spain Index (ETF) (EWP) to all be volatile on the session.