Stocks and Euro Fall Together as Correlation Coefficient Remains Positive $SPY $FXE

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

The S&P 500 ETF (SPY) and the Euro Currency Trust (FXE) moved sharply lower the last two weeks with the Euro leading the way. FXE is trading below its summer lows and SPY may be about to follow suit. The indicator window shows the SPY:FXE Correlation Coefficient. Even though there were a few weeks in negative territory in March and June, this indicator has been largely positive, which affirms the positive correlation between stocks and the Euro.

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Arthur Hill
About The Author:

Arthur is Chief Technical Strategist at TrendInvestorPro.com. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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