MBO Issue 100 (Apr 2020) Fire the Idiots Who Try to Interpret the Moving Average of the Daily Death Updates

Content

• Review
• Euro Breakdown Mode Begins
• S&P Done with the Upside
• Gold Consolidation Continues
• Big Picture Summary

Review

Euro pullback to retest the breakout down channel top turned into all out selloff for a new low, filling the long time open gap no less. Then volatility went wild and spiked around the same channel line since.

S&P got both 2019 year low and 2018 year low in a single flush. Since then it bounced hard back up within the long term normal up channel.

Gold reacted violently to the long term upside target. Yet, after the extreme price actions running the stops below, gold managed to hold its ground.

The extreme volatility was giving such a hard time for many. And more interesting, it sparked the market bottom buying frenzy everywhere as internet personalities all chip in on where the market bottom is or will be. Amazing what human greed can do.

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