MBO Issue 54 (Jun 2016) Brexit – The Only Thing That Matters

By Lawrence

MarketBiasObserver

Content

  • Review
  • Euro Same Old Same Old
  • S&P Expanding Triangle Formation
  • Gold Struggling at Monthly Resistance
  • Big Picture Summary

 

Review

Euro dropped back down to near previous year midpoint as expected. Then a sharp reversal just happened after US NFP report. Question is whether this short squeeze will have legs.

S&P touched my channel top completing the move lower. Sharp rally higher since after clearing the weekly bull flag resistance. Reasonable move in a quiet market environment.

The call for Dow pullback of around 5% in the special update has proved that even in such messy environment, custom market breadth trading models can still identify trading opportunities precisely.

Gold back fill to its weekly pocket below, no surprise there.

Overall, we have lived through a quiet month with everything important lined up in June.

 

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