Euro Capitulation

The holders of euro are totally capitulating today, and I see it as a long standing bottom. I don't know what that will do to the market, because the correlations are getting weaker, but I think we're near a bottom price wise, if not time wise. I am frankly surprised at how quickly traders have gotten bearish and are looking for more downside. Funny thing is, they are just looking for a few percent. Yet from their commentary, you would think the market has to get to 1000 before bottoming. I think its too late to take any short positions for more than just daytrades. The euro panic seems to be signaling that we are almost done with the selloff.