Euro getting hit

ES, not so much...

 EUR/USD close up...

 It looks like stops/order were hit @ $1.31 setting up a nice reversal, we've been seeing distribution in the pair for several days now so this isn't much of a surprise.

ES isn't moving so much, the correlation is usually pretty tight, however if ES is not quite ready to make a move lower, then it wouldn't be surprising to see these two diverge, however they rarely hold that divergence very long. It's a bot early to come to any conclusions, but this may be a nice indication to keep our eyes on.