Late Session Sell Off Sends Index's Down Nearly 1% (SPX)

Bulls were put back into the paddock this afternoon as the bears roared on the back of a 1% US dollar rally and sector wide commodity sell off. Spot gold futures are down 14 points on the day, off nearly 42 points from session highs of 1424. The E-mini contract closed the regular session down .80% to 1211, though traded as low as 1206.25 before bouncing.

United States dollar bounced of 76.83 this morning and did not look back, taking out the 78 level minutes before the US index's closed. The dollar strength sent traders into profit taking mode as the cascade affect left all risk assets offered the last half hour of trading.

The SPDR Gold share ETF (NYSE: GLD) closed off 2.19 points to 135.59 down 1.59%.