Today it was the U.S.  good news that one the day.  The SPY and the market as a whole rose on good housing data and absence of an substantial news from Europe.  Light volume the last few days is an indication that a holiday is around the corner.  That should entice the markets higher in a continuing of the rally we have seen the last few days.

The worry is still Europe and....

For those of you who believed when Spain's banks were bailed out and Greece elected the right party, that we would see a sigh of relief from the markets forget about it.  The worry continues and the stability of Europe continues to be theme the market is marching to.  It does not matter that housing sales are at a 2 year high in the US.  None of the positive economic news is enough to remove the problems that Europe is currently weighed down with.