First… A friendly reminder. I am not so interested in the black box driven price action that typically follows the FOMC announcement. I will be more interested in what the humans do Thursday after the data has been scrutinized.

Second… Equities, EURUSD, Gold, Silver, Copper are all flirting with their lower bollinger bands. Meanwhile, the DX Index, USDJPY, and UST yields are all flirting with their upper bollinger bands. Given the state of the markets a snap back in the opposite direction can not be ruled out for Wednesday. However, such a snap is not a necessity and I would be inclined to treat any such move as corrective in nature.

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