MBO Issue 39 (Mar 2015) Traders’ Heaven
- Euro Messy Swings Ahead
- S&P On Track To Its Blow-off Top
- Gold Is Hanging On A Thread
- Big Picture Summary
Euro entered a more difficult trading environment as predicted in last newsletter. The bounce to 1.14 and above was expected and completed since. The consolidation actions around 1.14 has been a total wait and see game as EU / ECB / IMF started a new round of assaults on the weaker economies within Europe.
S&P took off higher from the short term market breadth oversold condition mentioned last time and never looked back since. This caught many people by surprise but not the premium members here because I warned the move will go all the way into end of February.
Gold’s channel drifting move continues as there is really no reason to go much higher. Both upside resistance and downside support were tested and gold is still trapped in the same range.
(premium member only content below)