Stocks are at the lows of the day, down 37 points on the S&P 500. Tuesday’s low of was 1837.49 is a big level and stops tripped on the break. The next support is the 100-day moving average at 1828.

SP 500 daily chart

SP 500 daily chart

The FX market is still shrugging from the sidelines but I can’t imaging USD/JPY taking much more of this.

The Nasdaq has also broken below the March low.