Thanks Jim for the ES post, this is a topic near and dear to me heart. It is by for the most profitable pattern in my toolkit. This pattern is prolific in the Forex market. Here is one that I am watching. Taken in context, the play is simple.

P.S. It is GREAT to see you posting charts, this has been my most fervent desire for this forum!!

This is an ominous creep.

Notice how the EUR sits at its low, in a position similar to the one the stock market sits at? Not a coincidence, in my opinion.