The Fed Marriage Plan.

The bridal line-up.

The Federal Reserve + The European Central Bank + The Central Banks of Canada, England and Switzerland=MR.CRUNCHY USD

"This is the biggest act of global economic cooperation since September 11."
The Fed will set up a new auction facility that will provide up to $40 billion in two auctions next week -- Monday and Thursday. Two more auctions are scheduled for January 14 and January 28; and are open to all depository institutions able to borrow at the Fed's discount window.
A meltdown in the housing and credit markets has made banks and other financial institutions reluctant to lend to each other, causing a cash crunch. Banks have to maintain a certain level of cash reserves, which changes every day. During normal times -- when credit is smoothly flowing -- a bank, on some days, may be short on its reserves and would need to borrow from another bank to make up the difference. Or, a bank may have excess reserves, which it is willing to lend to another bank. Now, however, during the credit crunch, many banks have been hoarding cash -- not wanting to lend or borrow from others banks. That makes it harder and more expensive for individuals and businesses to obtain credit from banks to finance all sorts of things, such as homes, cars, school and small-business ventures.
A senior Fed official said the market plunge on Tuesday "had nothing to do with today's announcement" and that it was "in the works for a while." The official, who briefed reporters on condition of anonymity because of the sensitive nature of the actions, said the Fed waited until Wednesday so that the announcement could be jointly made with the other central banks


Tracking the Dow on Wednesday 12/12/07.
A gap-up early bull started to dwindle as the hours go by.The descending army of bearish doji stars spinning and pumping all the way down.The final hour saw a suisidal Miss Dow hammering after digesting the Fed's marriage plan.Near to the closing bell,noticed a bullish hangman waiting to send Mr.Jones to the guillotine again.
Look at the spinning bottom doji.It has now set the stage for either a bearish day and might reserve the upper shadow bullishness when it comes to Quadraple Witching day which is going to happen on the 3rd Friday of the month.Then only will the Full Moon Party www.youtube.com/watch?v=BWuGmFLDXBs begin.Meantime fasten your seat belt for the roller-coaster ride.