The SPX 500 sits about 8 points lower than Fridays close the S&P 500 as of 7:50am. Today we have the EU Economic Summit. The markets have started to decline as the Greek debt crisis has yet to be resolved.
As hedge funds book profits, the EUR/USD is off its high of 1.32. If there is no major conclusion with Greece, the Euro may possibly be at the high for February. The trend may be in favor of the USD if the debt crisis gets dragged out. The Markets could remain quite choppy due to NFP’s this Friday. Be sure to use proper leverage so you don’t get burned if risk-on/off sentiment reversals occur.
http://bbfx.com/blog/spx-500-monday-01-30-12
