![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgn4TQD7_NDC5v_x1oi3Q2K9C7aSTJZqjvQdQxPkmNMOLRlex4IZ3_l97l57NYbejLdvsfDBZtAGkSnHC_GmUiwlGKqhmqCRYXz5E2d_l6fn_-EJniH699KLQYEwdkYCyd-BKJgNQ/s400/Euro060809.gif)
This morning we see a continuation of the themes noted on Friday. Treasury rates are firmer; the dollar is stronger vs. the euro (above chart); commodities are weaker; and U.S. stocks are selling off. We are only a few points above the May highs in the ES contract; I'm watching closely for a return to that range and test of the early June lows.
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