Bearnake is doing his best to shovel American dollars onto foreign soil. Interesting how this is also a way to artificially lift the indicies. All things being equal, dropping dollar -1.5% should at least produce a +1.5% pop in the markets just to keep things ‘even’.

Your hard-earned dollars are being deflated as we speak. Intraday results, within one hour of the opening bell on Wall Street. Or perhaps we are seeing a flight out of the Greenback ahead of the election results?

I learned a lot about Fibonacci trading from a trader named <Brach> in ensign chat back in 2002-2004. The most informative piece of trading logic he imparted was the notion of 62% – 78% retraces – the ‘Brach Zone’. This represents the best area of opportunity for the trader to enter with well-defined risk (stops just above 78% retrace) to capture big moves in equities, futures, and foreign exchange. A good place to look for a ‘b’ wave high or low in larger a-b-c retrace context.

As far as running with the pack. a perfect wolfewave setup this morning on ES – E-mini s&p.

In the end, it is all just a zero-sum game, right? But it seems like the markets are doing soo good before the elections – all just smoke and mirrors.