by Chris Becker
With the United States on holiday (MLK Day) and only third tier economic releases, the only thing for markets to go on last night was speculation about what type of QE will be announced by the ECB later this week. European stocks rallied while oil and other commodities fell, with copper down 1.5% and precious metals flat.
In Europe the German DAX extended its big gains above 10,000 points, up 0.7% into overbought territory:
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