On the 60 minute chart of the SPY we see a double topping pattern taking shape. If the pattern breaks down, we could see some fast selling. On the daily (not depicted) we have two red hanging men, which, if confirmed, could be very bearish short-term.
$USD strength continued for the third consecutive session as price broke out of a month long bullish flag pattern. Energy, precious metals and commodities (excluding Ags) saw some profit taking.