Europe

The last 3 days have been 'nosiy' in precious metals markets with gold swinging from the best day in 5 months to the worst day in 4 months and now to another high volume surge, breaking the barbarous relic back its 100-day moving-average...

It sems the 100DMA is a key level with heavy volume being used to push gold futures around it.

UBS asks "Is gold establishing a foundation for a rebound?"

Gold longs rebuild while shorts continue to hesitate

US equity futures were deleriously bid from the moment Europe opened overnight...

But as US equity cash markets opened, 'risk off' flows suddenly hit sending Yen, bonds, and gold kneejerking higher...

Submitted by iBankCoin.com

S&P 500 futures are higher, continuing on yesterday's momentum, after European and Asian shares also rose alongside a rebound in oil, as the year-end performance chase appears to be accelerating. There were several different moving parts in a mixed European session, in which early Euro strength gave way to weakness...

... which in turn pushed the Stoxx 600 and US index futures higher, rising above yesterday's session high on negligible volumes. 

Blain's Morning Porridge, Submitted by Bill Blain of Mint Partners

Europe is like a 4D game of Jenga, and Germany is a very wobbly block - as are the banks

Europe is an enormous 4 dimensional game of Jenga.  At the moment there are far too many blocks in play. Some of them are likely to leave the edifice teetering but standing. The question is: will any cause it to tumble?