Tug of War in Equities

After a waek hand-over from Europe driven primarily by banks stocks being down on more capital fear, the US market turned for the better and for the last two hours it's been a tug of war beteen 860 and 880 in S&P. The bulls look for close over 880 to inginate the bullish tone form last Thursday whereas the bears look for a close below 860 to continue the bearish theme from last Friday and the European session. Stocks like Citigroup (C), Exxon Mobile (XOM) and Google (GOOG) seems to be important for the final outcome of the day. Bunds and T-Notes are holding in pretty well, but any break-out there will probably depend on a bearish resolution for equities today.