MBO Issue 40 (Apr 2015) Stock Market Correction As Expected

By Lawrence

MarketBiasObserver

Content

  • Review
  • Euro Sideway Actions
  • S&P Stuck in Correction Mode
  • Gold Bearish Formation In Place
  • Big Picture Summary

 

Review

Euro dropped down to January 50% expansion target and found support there. Reaction to the zone sent Euro back up to near January month low and stalled. As explained last month, this environment is more suitable for active players over swing players and the intraday moves are so volatile they dominated the tape.

S&P topped out right on schedule and never challenged the early March high since. The expectation of wild swings of 30-40 points was also spot on.

Gold continues to disappoint the gold bulls as it parked at the lower zone of last year.

 

(premium member only content below)


Part of our premium service, login now or upgrade your membership to view this report

Comments
  • smilingsynic April 1, 2015 at 9:38 pm

    My two cents: SPX 2072/73 has to serve as support if the market is going to retest its March highs before June. If we get support there, 2125 SPX in play.

    If we do not get support there, 1980-1990 in play.

    • Lawrence April 8, 2015 at 9:19 am

      FOMC minute today will provide the chance.

      I see spike and ledge on daily in the making as of yesterday. The bearish set up is shaping up.

      • Lawrence April 9, 2015 at 9:11 pm

        The test of the zone proven bullish. The push to 2120s will be a 2-leg complex top setup in the making. Probably the strongest one we’ve seen in a while.

  • smilingsynic April 10, 2015 at 10:38 pm

    The April MM takes us to around 2115. 43 point move from 2072-73 support.

    That is SPX cash.

  • You must be logged in to comment. Log in