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Will Euro Drag Hit U.S. Equities?

Published 02/14/2013, 01:51 PM
Updated 07/09/2023, 06:31 AM
IFNC
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The Euro is down today and is producing a drag on European Financials, as shown on the two ratio charts below. The EUFN:SPX ratio shows that the European Financials are weakening...price is below the 50-sma today and still below the longer-term uptrend. The Euro:SPX ratio is sitting just below major support. Ones to watch to see if the Euro weakness persists and whether it produces a drag on U.S. equities.
iShares MSCI Europe Sector:S&P 500
XEU:SPX
Meanwhile, the Bull/Bear standoff continues as we await a breakout/down, as shown on the 60-min. (market hours only) charts below of the four major E-mini Futures Indices.

Perhaps we'll see more definitive movement after Monday's holiday.
The Four E-mini Futures

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