The first pair of charts are the one year daily SPX on the left and the one year daily EUR/USD, on the right. The light blue line is the 8 day EMA with the grey lines being the 2nd deviation. The yellow line is the 21 day SMA.
The SPX and the EUR/USD were trading bottom left to upper right until December when the Euro began to weaken against the US Dollar.
The second pair of charts are the same comparison between the SPX and the EUR/USD from December forward. Currently, the strengthening US Dollar has not been reflected in the SPX.
