Market Update

More of a currency update, I'm very surprised the market didn't open lower considering the action in the Euro overnight.

A move lower of 140 pips! The red square is from the close yesterday to the capture a few minutes ago.

The market has been hanging in there pretty well so far, even though this is morning trade, which as a Full Time Trader, I use to ignore and start my day around 10:30.

I've been watching FXE and saw a signal there, amazingly after such a nasty move down in the Euro, it (the signal) seems to be moving the Euro, which means the dollar should be moving down, which is good for equities/commodities.

 FXE 1 min

So far a small move in the Euro, but a move nonetheless.

As far as economic data, t's a very light session. Personal Income and Spending came in at a disappointment, Chicago PMI and Consumer Sentiment both beat. The only thing left is an 11 a.m. speech by James Bull-a-d, I don't want the FAD sniffing around.