T minus 5 minutes and counting... But we already have some indications from the spot FX market.

And given the volatility, it's still not off the table that they come in at some point. But, I think they want this to go down, so they can initiate QE3 in a short while.

Watching to see if they view this as a 'W2' bullish ABCD here, and up it goes. That would have been a nice shakeout. And an object lesson in setting a 'W4' stop when it is positioned for a 'W2'...

And sure enough they come right off the ABCD...

So, the read was exactly right, the positioning really good, and the stop idea being based on a 'W4' spot because I thought if the robots came they'd come strong, was the flaw. A typical 'W2' stop, based on that it was positioned for a 'W2' and not a 'W4', would have not gotten me off the long side bias, and what is shaping up to be a potentially monster play would have been left intact. That's the way it goes. At this point I'll watch the .300, .382, and .447 on the way up, but I suspect they will make the entire drop back now and close the gap.

In the meantime, there is a bearish ABCD shaping up in here (1.000 at 77.50), so that is the first real test. Above that, if it continues, I'll be watching:

84.50

91.75

Centers of areas, of course. I also have a minor area at 80-81. Watch this ABCD here very closely, it should give some serious clues.

Watch the KZ here at line.

And right up off the KZ and line.

What a beautiful second chance!

I got tired of posting... Anyway, I was going to post that sure looks like a broad, rounding top on the 1 or 3-min chart. Let's see if it's another bullish ABCD, or the rounding top.

A lot of nice action. Gold almost at 1700

Gold 1705 (rounded). CL getting pounded nicely. ES flirting with the lows. That was a broad rounding top after all. Cool.

And then right back down into the close! Too funny.