Well, that escalated quietly. The Fed did exactly what the market expected — held rates at 3.50%–3.75% on a 12-0 vote — and then let the dot plot do the talking, with nine officials now pencilling in a 2026 hike. The dollar jumped, stocks and gold slid, and a “boring” hold stopped feeling boring. So which branch of our Event Plan actually fired? Here’s the read, graded on the daily close, using the levels we drew Tuesday — plus the one trap worth sidestepping.