This morning, the S&P 500 Index e-mini futures (ES Z1) are trading lower by 9.00 points to 1243.50 per contract. The decline in the major stock indexes comes as the European markets continue to face major problems. Bond yields on Italian and Spanish debt have surged higher this morning making it more difficult for countries to borrow money. Traders that do not want to follow the minute by minute news out of Europe can simply follow the U.S. Dollar Index. When the U.S. Dollar Index declines the major stock indexes around the world will inflate and trade higher. The opposite is true when the U.S. Dollar Index rallies, the major stock indexes will deflate and sell off. In essence, every trade is a trade on the U.S. Dollar Index.
