MBO Issue 40 (Apr 2015) Stock Market Correction As Expected
- Euro Sideway Actions
- S&P Stuck in Correction Mode
- Gold Bearish Formation In Place
- Big Picture Summary
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.
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