Technical Analysis

S&P trades to new session lows

Still higher on the day, but much of the gains have been erased

The S&P index has pared gains and trades to new session lows.  The high for the day reached 2939.86. That occurred in the first hour of trading and was short of the record high at 2940.91 (September 21.  The last hour has seen a steady erosion lower.  

The Nasdaq is up 33 points or 0.41% at 8032. The high reached 8053.93. The low is at 8012.02

The Dow is up 66 points or 0.25% at 26840. The new all time high reached 26951.81.

If the stocks fall, does the USDJPY follow suit?

Looking at the daily chart, the pair has reached into the swing highs in the 114.36-49 area (the high reached 114.44.  Sellers leaned. We are currently trading at 114.33.  Seller may look to lean.

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