Earlier in the day we were told there were stops in the 1.2420 area. Now that we’ve topped out at 1.2415 and retreated to 1.2285 and come all the way back up to the 1.2390s, you’ve got to assume there stops are now that much larger above the 1.2420 level.
The S&P 500 continues to recouped lost ground, now down only 4 points after being 20 points weaker earlier today.
