This morning, the S&P 500 e-mini futures(ES M1) are trading lower by 4.00 points to 1337.75 per contract. The catalyst for the lower futures market is obviously the stronger U.S. Dollar Index. Greek and Spanish debt yields are spiking sharply higher and this type of activity in the European Union will usually cause the U.S. Dollar to strengthen. It does not look as if this European debt crisis is going to disappear anytime soon.
