MBO Issue 67 (Jul 2017) Special Update

By Lawrence

MarketBiasObserver Special Update

July 20,2017 special update on stock market and gold. S&P has now entered the target zone for the year. It is time to review what to expect in coming weeks.

 

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Comments
  • melvyn July 21, 2017 at 5:41 am

    LC possible to point us the time for short with SL…. greatly appreciate

    • Lawrence July 21, 2017 at 3:17 pm

      The time is yesterday with the conditions invalidating the setup in the post.

  • smilingsynic July 21, 2017 at 1:33 pm

    LC, I have 2500-2525 zone SPX cash as upside target. That election night low on the futures–back when the futures tanked when Trump’s victory looked imminent–would be a reasonable target. From 2520-2525 that low is about 20% down.

    Cannot play until after my divorce is settled.

    • Lawrence July 21, 2017 at 3:16 pm

      That is exactly the upside target of the red box in the chart.

      I expect 2 possible scenarios:

      1. we get there with a 3-5% correction first going into early August and then a reactionary new high in August getting up there => normal correction

      2. we get there straight up without the mild correction => market melt down potential

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