The Italian (top chart) and Spanish (bottom chart) markets both consolidated their losses over the summer and were meandering higher. Note how both stalled right below their respective 200 day EMAs at the end of August. However, the ECB announcement provided traders the ammunition they needed to rally the markets into bull market territory above the 200 day EMA. Note the rising MACD, and strengthening of prices.
The French market was already above the 200 day EMA and in an upward sloping channel. However, it's important to remember that the new French government is now trying to balance a budget and running into difficulty.
The US treasury market is moving sideways (top chart), trading between the high established after a long rally and lows from mid-August. However, the top chart shows us that prices are right at longer-term support. This is important considering that the Fed is about to (possibly) move into QEIII.