S&P 500 is currently trading at intraday resistance, Stochastic is in overbought area.. 1200 - 1205 should not be passed easly.
Also if we look at weekly chart below, we can notice that price has dropped from this area before. Stochastic is overbought and curving down, giving confirmation for short entries.
Situation on S&P 500 can be also applied to EurUsd, currently trading at 1.3350, heading towards its support at 1.31 - 1.30. There is not much on the left to stop the price from dropping to that little level marked in blue.
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