Early Action from the ECB

Last time I looked at ES before heading to a Dr.'s appointment this a.m., it looked like we were on track for a flat to perhaps a small gap down opening. Checking my phone I saw alerts of higher prices. It took about a minute to figure out what was going on.

 For a 5th consecutive day, the European Central Bank has stepped in to buy Italian Bonds  as they were about to break support from previous interventions. Ironically this was timed very close to the New York open.

 The Euro gained ground on the ECB intervention and in the red box is the 9:30 New York open.

Heres the 1 min SPY.

Here's a map of the probability of default sent to me for Europe.