Not much new can be said - we are still in consolidation and waiting for US indexes. There is quite good article summarizing the US market now (here).
Andy Xie explains current fundamental background and possible outcomes in very interesting paper (here).
Quite straightforward article on bankers approach to risk management (here).
Sources:
[http://www.swingtradeonline.com/jackswrap/361/]
[http://www.ft.com/cms/s/0/fe462a30-e9af-11de-9f1f-00144feab49a.html]
[http://www.ritholtz.com/blog/2009/12/different-exiting-paths]
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