Tuesday, January 24, 2012

Market Just following the Euro

It's a pretty slow day so the machines are just running legacy arbitrage algos.

 SPY in green vs the Euro in red, an obvious correlation.

 However I don't think the Euro is going to hold too much longer here, probably through the NY close, but I suspect it dips with ES in after hours.

Longer term, the Euro looks to be topping out after it has made its run to $1.30+

Pretty much a boring day.

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