This afternoon, the major stock market indexes have rallied once again after more news out of the European Union. This time around the European Union leaders have released a statement that they may run two separate rescue funds. Who really knows what this news actually means? If you are a trader then you should know that the European news caused the U.S. Dollar Index futures (DX Z1) to decline.

The U.S. Dollar Index futures (DX Z1) just fell off a cliff before the opening bell. When the U.S. Dollar Index declines the major stock indexes will inflate and trade higher. You see, nobody really cares about the poor earnings reaction to Amazon.com Inc (NASDAQ:AMZN), and Broadcom Corp (NASDAQ:BRCM) earnings. The markets are simply reacting to the action in the U.S. Dollar Index. When the U.S.

With the major indexes opening today's session down and things looking grim stocks staged a recovery and were able to reverse decent losses and finish higher with mild gains. Market breadth was generally positive but investor participation did not indicate the positive reversal had strong backing behind it.

Stocks rose today with each of the major indexes gaining at least 0.5%. The DJIA (DIA), S&P 500 (SPY), and Nasdaq Composite (QQQQ) all closed near their session highs. In addition, both the S&P 500 and Nasdaq Composite spent the entire session in positive territory while the DJIA was only slightly negative at one point during today's trading session.