MBO Issue 44 (Aug 2015) Cleanest Dirty Shirt Is Back
- Euro’s Roller Coaster Ride Down To Par
- S&P Breadth Correction Completed
- Gold Going Lower
- Big Picture Summary
The expectation of a painful take down of euro was spot on. Instead of a smooth drop lower, we have cloak and dagger drama politically, leading to twists and turns in euro. At the end, Euro still went lower.
The 5% correction in S&P completed last month with very strong interest in buying that dip. After the initial buying rush, the old resistance zone still stopped the rally stone cold. S&P ended up going nowhere by the end of the month.
Gold has started its flush out process that I warned about last month.
(premium member only content below)