So there you have it, the markets appear to be pausing ahead of the meeting of the ECB in anticipation of some direction on how Draghi is going to proceed. Is he going to initiate a European version of large scale asset purchases (QE) or is he going to try and talk the markets off the ledge with more lip service? It seems as though that is the question traders in four markets - Treasuries, equites, gold, and forex - are asking themselves. One can take comfort in that we should have our answer tomorrow.