SPX 500 - Thursday 05-31-12
The SPX 500 sits about flat from Wednesday’s close on the S&P 500 (as of 8:35am ET). As we approach the end of May, we could see some profit taking as the USD is overbought. Tomorrow we have Non-Farm Payrolls so don’t jump the gun as sentiment is not certain.
The USD/JPY (currently 78.63) has shown its safe-haven status as fear in Europe continues. If June brings a risk-on sentiment this could be an interesting pair to keep an eye on.