December E-mini S&Ps this morning are up +0.19% as the market awaits Q3 company earnings results, while European stocks are down -1.26% at an 8-month low after the German Oct ZEW investor confidence fell for a 10th month to a nearly 2-year low and UK Sep inflation slowed to a 5-year low.

December E-mini S&Ps this morning are up +0.04% and European stocks are up +0.63% on signs that China is expanding stimulus to promote economic growth after a government official familiar with the matter said the PBOC is injecting 500 billion yuan into China's five biggest banks.

US Markets are closed today. Asia was mixed and the UK is up 1% but the rest of Europe is flat. Last week's rally came on extremely low volumes but it accomplished the mission of taking us back to new highs.

The markets are loving our feisty new Fed Chairwoman!

Friday's jobs report was bad – and that's good, isn't it? We need bad news to put an end to all this taper talk so the Dollar can continue to devalue.