MBO Issue 57 (Sep 2016) A Storm Is Brewing

By Lawrence

MarketBiasObserver

Content

  • Review
  • Euro Monthly Pattern Locked
  • S&P Seasonal Weaknesses In Pay
  • Gold Short Term Trend Intact
  • Big Picture Summary

 

Review

Euro bounced off the 1.105 level on first test basis and gave us a measured move higher to mid 1.13. Since then long term resistance showing its strength and forced Euro back down to the channel resistance line before finding support.

S&P spent a month going consolidation thanks to the slow summer. Mini excitements like comments from Mrs. Yellen or NFP report did nothing much to change the current situation.

Gold experienced a similar consolidation period without fireworks. Even G20 summit did not give it a nudge strong enough in either direction.

Overall, a quiet month concluding the summer season as expected.

 

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