MBO Issue 47 (Nov 2015) The Almighty US Dollar
- Euro Retest of Year Low in Play and Potential Downside Targets
- S&P Fight at Previous Year High
- Gold in Weekly Bear Flag
- Big Picture Summary
Euro challenged channel mid and stalled from there. This gave us the target of channel bottom. Euro eventually got there and broke below.
S&P formed a bottom as expected and took off. Breadth models correctly tell us S&P was likely to go higher.
Gold bear flag scenario materialized. Up drift to resistance and stalled.
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