In keeping with the recent trend, yesterday's selloff may have started the end-of-the-month selling Deron Wagner has seen over the past few months in the S&P 500.
The euro is well supported at $1.4850 and even more so at $1.48, but should the lower of those levels fail, the tide could begin to turn tide for the US dollar with all of the associated risks to equities.
The indices managed to come back again Wednesday afternoon to close just beneath the flatline and positive on the OEX. But it was a generally narrowly mixed picture at the close.
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