We should see at a minimum a nice pullback in each of these today. Whether the pullback will be the start of a larger leg back down remains to be seen. If both trade much above futures overnight highs then my view will be invalidated. But right here looks like great risk/reward shorts in my opinion. I shorted S&P futures at 1316.50 and added to EUR/USD short @ 1.4495 this morning (note S&P futures trade at about a discount to the cash index).
S&P 500 - Cash Index