Just as my 401k started dust it self off, stocks decide to follow the stronger dollar and shed their early gains.
The S&P was up 1.5% earlier in the day but has shed 2/3rds of those gains as the dollar accelerated its rebound.
EUR/USD is consolidating losses in the 1.2215 area after dipping as low a 1.2191 earlier. Rumors of a potential Spanish downgrade was the latest nail in the euro coffin. 1.2180 is important support. A break will turn the focus back on Fibo support at 1.2132 (50% of the all-time EUR/USD range…)