I think we are close...
As you can see the move in the market is not announcement based other then the kick in the Euro, on this chart the Euro and SPY are in lockstep, but SPY volume is dropping off fast.
The Euro 3C chart is in a relative negative divergence now and no longer confirming the Euro's move.
The 3C on the actual EUR/USD futures has dropped nearly straight down.
Remember what I said about initial reactions. Watch for the Euro to fall out of sync first, the market shouldn't be far behind.
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