There is likely to be wild gyrations in the market today, and intervention in either the equity or Forex markets or both is highly probable. Therefore, throw your indicators, trend lines, support/resistance out the window. If things really start to get bad, none of that will matter. Just as soon as you get your shorts on, Bernanke is going to throw you a knuckle ball. And no, you can’tÂ hit a knuckle ball.
There is a lot of fear, uncertainty, and doubt right now, and it is not likely to get worked out in one trading day.