MBO Issue 62 (Feb 2017) Trading This Worldwide Political Hell
- Euro on Track to Tag First Upside Target
- S&P Upside Breakout In Place
- Gold on Track to Challenge Its Upside Resistance
- Big Picture Summary
Euro falling wedge broken, slow rise towards first target above.
S&P500 has a mild selloff back down to highest support but that’s all we got going into NFP. Since S&P failed to drop back down to close below previous year close, no signal for steeper pullback triggered.
GLD struggling at the all critical year 2016 midpoint as explained last issue. No clear direction yet.
Overall, nothing surprising happened. Just lots of chatter from political sphere flipping public opinions every few days.
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