A VIt was pointed out earlier in the week: S&P came up toward critical 1292.00 technical resistance. Now, with two sessions to go in the week the world is holding its collective breath, and everyone says: "the proof is in the pudding: will the breakout materialize?" SP futures were hit by onslaught of negative news overnight: AIG, European Central Banks, a jump in Oil on Turkey pipeline force majeure, Target, Jobless Claims.. down 15 handles! A fake-out of historic proportions?

In the meantime, each of the major European currencies has declined over 6% on straight-line three-week spiral. This put them within spitting distance of 2008 water-marks: 1.0622 USD/CHF, 1.9338 GBP/USD and 1.5305 on flagship EUR/USD!

So, as the starting pistols are about to go off in Bejing, the no less interesting games are about to unfold on global electronic arenas. Each of those contracts could potentially pace one another, and make the crowds scream!


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