FX

You can't look at the market and understand it without understanding FX. If you recall the post on how things will likely play out and where the market will get dicey, it was at major resistance, like the kind the SPX is close to, but maybe more importantly where the Euro is in regard to major resistance.

Traders are looking for a failed test of resistance, remember I mentioned the market may very well through them a bone as it will bring in more shorts...

Take a look at the Euro in comparison to the market action...

Major resistance, the area where a short squeeze would be effected on a break that holds above this level.... With 3 attempts today, traders are looking for this exact scenario.