SP 500 and NDX Futures Daily Charts - Light Volumes and Rumours

The stock markets rallied early on with the news that a deal had been struck between German and France.

The volumes were very light and lacked conviction with little follow through even as the SP 500 seemed to break out of its triangle formation.

In the afternoon another headline swept the markets, that Standard & Poors would be placing the entire Euro zone on ratings watch depending on what