The economic numbers came in a bit shakey this morning, but stocks were holding in as the metals were hit.
Interestingly enough the financial short ETF FAZ was running negative while the broader short ETFs were showing gains.
Goldman shook the markets with a 'sell' on the SP today, and then rumours were abounding of a big downgrade of the banks by Moody's tonight, including a specific rumour of a three level downgrade on Morgan Stanley.
This had the flavor of a trading desk operation today ahead of the Russell rebalancing tomorrow, but let's see what actually happens tonight, and what Moody might say.
