MBO Issue 37 (Jan 2015) European Crisis Redux
- Euro Established A New Bull-Bear Line
- S&P Volatility Play
- Gold Ready for Its Breakout Play
- Big Picture Summary
Euro breached the critical support zone mentioned in last issue. I warned that bottom picking should be avoided until after new year. And we got 1.20 expanded target on first trading day of 2015. Everything happened the way it should be.
S&P 500 made the expected 5% drop (with change) and took off higher going into year end. Only when European problem surfaced again in last week of 2014 we see some weaknesses showing.
Gold did the seasonal pop back up to challenge the channel bottom and stalled. Very typical year end action with no surprises there.
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