Dow Off Over 100, Italy And Spain Are Getting Destroyed!!! TrimTabs: We Increasingly Do Not Like What We See Investors Are Piling Into Stocks While Companies Are No Longer Supporting Share Prices.

InvestmentWatch

FTSE 100 /quotes/zigman/3173262 6,271 -76 1.20% 
DAX /quotes/zigman/2380246 7,721 -113 1.45% 
CAC 40 /quotes/zigman/3173214 3,717 -57 1.50% 
FTSE MIB /quotes/zigman/1482176 16,835 -486 2.81% 
IBEX 35 /quotes/zigman/2759620 8,090 -141 1.71% 
Stoxx 600 /quotes/zigman/2380150 286 -2 0.76%

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US Futures Are Fading, And Italy Is Now Getting Smashed

Turning into a bit of an ugly day.

US futures are pointing to an open right now around 0.5%.

The real story today is in Italy, where concerns about the outcome of the coming election seem to be worried.

JEFF SAUT: The Stock Market Will Probably Tank After Obama’s State Of The Union

Raymond James strategist Jeff Saut offers his take on where the market is headed next.

Today is session 23 in the typical 17- to 25-session duration of a “buying stampede.” Such skeins only have one- to three-session pauses or pullbacks before they exhaust themselves on the upside. While a few have lasted for 25 – 30 sessions, it is very rare to have one last for more than 30 sessions. That said, this one feels like it will extend towards the State of the Union address slated for February 12th. That address will likely be viewed negatively by the equity markets, which should serve to finally bring about a 5 – 7% correction. How the stock market reacts following such a pullback will tell us a lot about the market’s future direction. In the interim I favor the upside with the caveat that this rally is long of tooth.

Italy 10yr /quotes/zigman/3483462 4.40 +0.11 2.62%
Spain 10yr /quotes/zigman/3483373 5.40 +0.20 3.83%

TrimTabs: ’We increasingly do not like what we see…’

Stock fund inflows – combining mutual funds and ETFs - summed to $77.4B in January, according to TrimTabs, smoking the previous record of $53.7B (when else, February 2000). “We increasingly do not like what we see … Investors are piling into stocks … while companies are no longer supporting share prices.” (uh, UTX just announced a $5.4B repurchase program).