Since we seem to be correlated with stocks today, we need to pay attention to the final hour of trading on Wall Street as it is often the most volatile, Many times during 2009 we would enter the final hour down 1% on the day only to close flat. Earlier in the year, selling would often accelerate as the day went on.
We haven’t had a sell off worth mentioning in what feels like months, so we’re probably overdue for a late-day swoon, but that is just a hairy-assed guess on my part…
EUR/USD trades at 1.4495 with stocks down 11 points versus the S&P.
