Tuesday's lack of broad-based direction was likely attributed to nervousness ahead of Thursday's public release of the results of the financial "stress tests" conducted by the government last week.

The markets had a slightly lower session today in what looked like a consolidation day, as support was tested severely on two occasions and held, resulting in a late sharp rally back on the indices over the last hour, sharply reducing the losses.

People who had no idea there was anything wrong with the world financial system two years ago, now say the problem has been fixed.