World Stocks Rose On New European Hope

US markets opened strongly, gaining 2.8% to 3.5% after one hour of trade.

European bourses gained 3% to 5% at this moment

Asian bourses closed with about 2% gain before the US markets opened.

Looked rather bullish on the hope that the European leaders would unveil new measures to resolve the debt problems.

This is only a technical rebound or short covering rally to me. Any rebound will be short-lived.



This is one of those mini-mini rebound wave. A small one to two days mini wave (iv) rebound as shown above. I don't think the European debt crisis has hit bottom when it has just started to threaten France and Germany.

The key words now is to protect your capital.