Today is not like yesterday but upside has been limited
The EURUSD moves to new lows, and the US stocks have turned around.
The S&P Index dipped into the negative territory and in the process tested the 100 day MA at the 2042. 06 level. A move below the level could see a further slide over time toward the 200 day MA at the 2001.98. Just to put things into perspective a move to the 200 day MA would represent a 5.53% fall from the highs - certainly doable.
Although the stock market does not have the momentum from yesterday, the upside was limited too. So there could be further liquidation selling before a bottom is found.
