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MBO Issue 69 (Sep 2017) Chaos in the Making

By Lawrence  

MarketBiasObserver

Content

  • Review
  • Euro Enters Its Showdown Time
  • S&P Breadth Correction Mode
  • Gold Ready to Move
  • Big Picture Summary

 

Review

Without surprise, Euro reacted to the resistance zone and still drift up to the all important 1.20 area.

S&P500 sold off from the resistance zone and tagged the minimal downside target. Not as much as I hope for but it is expected due to the massive number of shorts being trapped in the past few months.

Gold has finally broken its resistance thanks to multiple crisis looming. The nice pop is expected thanks to the void zone created by the opposite forces between the two channels.

Now that summer is over, we are getting ready for real actions this month.

 

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Comments
  • smilingsynic October 4, 2017 at 2:44 pm

    2537 on December ES. Wedge. Be careful. Moved my children’s money out of stocks and switched to VXX earlier today. Still say we will eventually hit election night overnight lows.

    Still suffering through the courts. Over $22,000 of legal costs later and am still unable to trade the large account. My ex’s attorney wants the account I built from 10K to 367K for her, and I am going to keep fighting. I did 100% of the work and I will be damned if I am going to give up without a fight.

    I have been standing on the sidelines, but no more. Will be opening an account with money I have been able to save. Going back to my roots–1 contract, and building up from there. I have done it before, and I can do it again.

    • Lawrence October 8, 2017 at 10:48 am

      One of my mentors who taught me trading bonds and S&P future once said,

      Even if I have to start from scratch, give me enough money to trade one contract, I will make a million in couple of years and much more 5 years down the road.

      And he did, several times no less, on friendly competition with me and a few others. We did that to keep ourselves in check with good discipline and money management. Well, I was the worst performer every time =)

      All the best!

    • melvyn October 11, 2017 at 11:06 pm

      Good luck SS…. will be keen to watch how you did it…

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