I noticed a small article in this morning's WSJ Market Watch newsletter that the Japanese government is preparing to present a report projecting that the deflationary spiral its been struggling with since 1990 is ending and data suggests that inflation will be manifesting itself in the Japanese economy in 2013.

Hi, I had a few minutes this morning to throw together some charts and make a few comments on what was a momentous week in global financial markets.

This will be extremely abbreviated but I thought it important to give my readers a perspective on these developments because I believe they set in motion a course of events that will lead this market higher into the election.

What a difference one week makes! On Thursday's blog post my title was, "what a difference a day makes". In the headline driven market we find ourselves where fundamental and technical analysis count for little, the impending deflationary death spiral we were confronting early in the week melted away with one comment from ECB President Mario Draghi: "Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough." That last sentence sent global risk assets skyrocketing into the weekend.