Mr. Market throwing his second tantrum of the day

Waaah! Uncle Ben didn’t tell me whether he’ll do more QE in August or how much! How can I trade like this! It’s not fair!

EUR/USD has fallen back to the 1.2650s after failing to surmount resistance just shy of 1.2750 while the S&P falls 0.7%.

For you double top fans, we need to break the of 1.2556 low from Monday to trigger the pattern. If we do, we have a bit less than 200 pips of downside, according to the textbook.