The EUR/USD continues dropping and it would not favor the US stock markets until the drop meets a support.
I expect a support found in the area 1.27547-1.27383 where is the mix of MA-200 days and 38.2% retracement of the rally since 7/24/2012 to 9/14/2012.
The precious metals and crude oil have made new lows in the European session, that increases the odds that US stock market would dive today.
I tend to think that the bears would like to try one more time the area 1,400.00.
If a lower low than 1403.28 could be made in a few coming days, I may hope that the correction from 1474.51 would have finished in double zigzag and the market would prepare for a big bounce.