The S&P 500 is down 9 points to 1659 after hitting a record high of 1687 earlier today.
Technically, that’s a spinning top reversal and a bearish engulfing candle. The turnaround also comes on heavy volume on a big news day. The session isn’t over but the price action certainly has some of the characteristics of a near-term top.
USD/JPY is vulnerable to a correction in stocks but the commodity currencies could fall even farther if stocks drop.
