MBO Issue 27 (Mar 2014) War Time
- Euro Third Test Of Upper Boundary
- S&P Market Breadth Readings Showing Signs of Overbought
- Gold At Decision Point
- Big Picture Summary
Euro found support at 1.35 and made a hard turn from double bottom at hourly. It’s the policy driven rally I warned about. Euro ran back up to channel mid and has been fighting around there since.
S&P flushed lower as expected. It then found support from 2013 4th Quarter midpoint and breached 1820 in one powerful squeeze. It invalidated the down trend since.
Gold has continued to drift higher back to challenge the critical level of previous year bottom 25% threshold and the channel resistance at the same time.
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