MBO Issue 61 (Jan 2017) Here Comes VolatilityBy
- Euro at Critical Make It or Break It Juncture
- S&P Year 2016 Deja Vu
- Gold First Attempt to Break Its Monthly Down Trend
- Big Picture Summary
Euro flushed several times to its low of the year fulfilling the expectation of attempting to close at the low of the year. It also dropped from the perfect resistance zone from last swing low.
S&P chosen upside breakout and tagged the former upper resistance line. The breakout play target based on STOPD tagged.
GLD bottomed at exactly the falling wedge / 3 pushed down former resistance line as its support. Chart pattern working out as expected again.
Overall, aside from very low volume trading across all the major markets, everything happened following weekly and higher timeframe formations.
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