The S&P 500 opened slightly higher but quickly fell into negative territory and is chopping near unchanged.
The risks for all traders are double-sided headed into the weekend. If the US government makes a deal, there will be a relief rally. If they don’t, the mood will sour further on Monday. The name of the game today will be searching for headlines that point one way or the other.
SP500 daily chart
In the absence of news, look for position squaring. One spot where that may show up best is EUR/USD. The market is long and in the money and traders won’t want to risk that heading into the weekend.
