The other day, I completely ignored this P-Bar because it was in a currency market and because it was so BIG.
Now look.
As you know, CHF is pegged to Euro. So, this foreshadowed the big move of the last several days.
It stands to reason that there has been some very big (central bank size?) money moving.
As you also know, the currency markets dwarf the equity markets (which makes my trades specks of dust on the elephant's butt

)
So, it is no surprise that equities have moved big with the currencies.
What is important now is that the P-Bar is just shy of having been met.
I am inclined to speculate that the recent surge is finishing up around here.
I would like to see the P-Bar get hit to the penny perhaps by today's European close.
This may not mean that things reverse. We could get a consolidation instead.
With OPEX into Friday though, there should be some action.
Then again, this could all be in my imagination...