Editor's Note:

Investors around the globe have been expecting ECB President Mario Draghi to announce some sort of monetary easing or stimulus program at tomorrow's meeting.

There seem to be two camps. One camp believes any news from the ECB is already baked into equity markets and thus we could see a sell-the-news reaction. The other camp has been expecting Mario to disappoint. So if they're expecting to be disappointed and Mario does deliver on his promise of monetary easing what is their reaction? Could it be bullish?

The ECB decision on interest rates will come out before the U.S. market's opening bell. Odds are good we could see U.S. stocks gap open up or down.

We're not adding any new trades tonight.

S&P 500 Daily Chart: