As discussed Liquidity rallies still persistent - Dow and Oil on a 25mth cyclical bull run. Update 7 - market uncertainty (Europe), China/US Trade War, stocks are still showing a rangy, sideways trading. More so because of investor nervousness re: huge debt problems in Europe, this uncertainty in investor sentiment also relates to yields increasing on the 10 and 30 yr US bonds; and the mass of debt that is flooding the markets. Note the recent Treasury auctions on the 25 March 2010 were disappointing, hence yields all spiking which included the 10 yr note. Further indication of an oversupply of debt.
The other news is oil moving upwards on weaker US dollar (this may be temporary) and on the news of an attack in a Moscow (Russia) subway by cowardly Chechen rebels. Any conflict/geo political/eternal or otherwise relating to oil producing countries will have an effect on the oil price.
I don't think we are going top see a week of 100 point + rallies on Western indices. As for Asia, well being cashed up creditors is fine having a huge property bubble in China is not fine. Any dramatic fluctuation to Asian indexes will be on liquidity tightening and/or property default issues coming through and Asian (China) bank write downs. This is all but a certainty
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