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Yesterday, the major stock indexes soared sharply higher into the closing bell. The relief rally came from a very oversold technical position which is often very powerful. This morning, the stock markets around the world are much more subdued. This type of action is common after a big rally day, the markets will generally pause or sometimes have a small retrace day. The S&P 500 Index e-mini futures (ES Z1) are trading higher by 4.00 points to 1195.00 per contract. The news out of Europe has not been the greatest today, however, the stock market indexes are still holding steady.