Can Draghi Save the Day?

This morning, the S&P 500 Index e-mini futures (ES-U2) are trading higher by 5.50 points to 1376.00 per contract. Every trader and investor is waiting for the details released by the European Union President Mario Draghi on how he is going to save the European Union. Traders should simply watch the U.S. Dollar Index very closely as that will dictate the move in the stock market. Remember, the major stock indexes around the world will usually trade inverse to the U.S. Dollar Index. Earlier today, the European Central Bank, and the Bank of England both kept their key interest rates unchanged.

Traders should expect all of the leading European equities to be very volatile today. Some leading European equities that could be in play today include ProShares UltraShort MSCI Europe ETF(NYSEARCA:EPV), Banco Santander, S.A. (ADR) (NYSE:SAN), National Bank of Greece (ADR) (NYSE:NBG), and the Bank of Ireland (ADR) (NYSE:IRE). This trading session could certainly be pivotal for the major stock indexes.

About Nicholas Santiago 575 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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