• Equity futures are solidly up but continue to react to Bernanke’s speech to Council of Foreign Relations.  He is calling for a new regulatory authority which would, hopefully, smooth out the boom and bust cycles.  Good luck with that.  Especially since the Fed itself is accused by many to be the creator these cycles.
• Oil is up modestly, off it’s earlier highs.  To see oil trade at $50 in near future would not be a surprise.
• Gold still getting whacked as European treasuries are rumored to be sellers.  And, as gold bugs react to potentially higher short-term equity markets.
• We could get a good Dow showing early as banks such as Citi and B of A are maintaining their blistering pace; both are up 10% in the pre-market.
• GE is up huge and seems like the place to be for traders.
• The burden of proof is still on the bulls.  If they can maintain the upward bias past lunch then we may have something.  Lets see if this is something more than just a short-covering rally. And, should we get more than a one day rally then we may really be on to something.

Make it a great Tuesday!