This morning, the S&P 500 Index e-mini futures (ES H2) are trading lower by 3.75 points to 1338.50 per contract. Yesterday, the major stock stock indexes finally sold off into the close. This sell off may not have been anything more than profit taking from a short term overbought and extended condition. Traders should continue to follow the U.S. Dollar Index very closely. When the U.S. Dollar declines the major stock indexes will inflate and trade higher, the opposite is true when the U.S. Dollar Index rallies, the major stock indexes will deflate and trade lower.
