The S&P is down less than 11 points after falling as much as 22 earlier in the day. Amazing what closing European markets can do for the US market. We managed to close in positive territory yesterday after an overnight plunge though it looks as though the best we can do today is to trim losses.
EUR/USD shorts will get uncomfortable above 1.3065 and especially 1.3080.
Stocks are not alone. Risk assets are doing better across the board in the afternoon. WTI has bounced to $97.25 from $95.52 lows and Gold is back above $107 after a probe below $1600 earlier.
EUR/USD is steady in the 1.3030 area with intraday shorts trading places with traders still caught long from ahead of the weekend elections and no selling into rallies.
