I highlighted earlier today how Morgan Stanley's Mike Wilson was calling an end to the rally in stocks today and he's certainly looking smart at the moment.
The S&P 500 is down 61 points to 4010 with the Nasdaq also down 1.5%.
The dollar is surging after a rough few weeks. USD/JPY is leading the charge up 233 pips to 136.63 as the high volatility in FX continues. The dollar is strongly higher across the board after the ISM services number beat expectations.
All correlations in the market have gone to 1:1 right now so if stocks have topped then the dollar has bottomed. We're going to have some interesting charts today with a few potential reversals.