And there went 1120.  We have fallen a long way in about 25 hrs...amazing volatility both ways.

EDIT 3:35 PM - this sort of close should lead to a bad open tomorrow - not a gap up. Not sure anything 'new' is going to come out of Europe overnight - we've heard it all before.  For very short term traders, a bad open tomorrow could be a (traders) buyable opportunity especially if 1100 is broken on the S&P 500 and a lot of stop losses are triggered.