The S&P is pausing just below its 200-day moving average, today at he 1113 area. A break above will prompt more structurally short traders to throw in the towel and cover.
EUR/US is running into solid selling just above the 1.3000 level. We heard reports of Chinese selling in the 1.2980s and would not be surprised if they were the main 1.3000/05 sellers.
1.2955/60 is solid support on dips this afternoon.
