December E-mini S&Ps (ESZ14 -0.14%) this morning are down -0.10% and European stocks are down -0.09% after a gauge of Eurozone manufacturing activity last month was revised lower to its slowest pace of expansion in 15 months.

The average mid cap score is 54.79 this week, below the four week moving average score of 57.43. The average mid cap stock is trading -15.81% below its 52 week high, -0.40% below its 200 dma, has 7.77 days to cover held short, and is expected to post EPS growth of 19.07% next year.

September E-mini S&Ps (ESU14 +0.16%) this morning are up +0.19% on optimism that Q2 company earnings results will remain strong, while European stocks are down -0.17% after German investor confidence dropped for an eighth month.

. Losses in European stocks were limited on a possible short-term truce to the hostilities in Ukraine.

The 'dumb' algos trading off the headlines have dragged Dean Foods stock down 7.5% as the WSJ reports that the company has in recent weeks received a subpoena from criminal authorities ordering the company to produce information, said a person familiar with the matter.