Iraq is the main worry. We've broken important technical support levels in the last couple of days as the market worries about growing geopolitical tensions.

195

Argentina's problems seem to be mounting with negative consequences for the country's debtors and many quoted European companies.

190

Earnings growth is still improving and Europe has the advantage to be late relative to the US economic cycle.

185

For the last two days and the next few days, what's driving the market is the lack of bad news. This rebound could last two or three weeks.

149