MBO Issue 58 (Oct 2016) The Hopeless Future
- Euro Breakdown Play Intact
- S&P Limited Upside Potential
- Gold Completing Its Bottom Building Process
- Big Picture Summary
Euro topped out at the pre-breakdown flush crime scene around 1.132 and eventually tested the support at 1.112 again. Instead of giving us a breakdown, Euro managed to coil up in a tight range whole month. Bearish expectation correct but obviously it is not that easy to get a total breakdown since central banks are fighting this in the background.
S&P flushed down to support as projected in last issue. Since then we also got the bounce as warned in the special update. Since then S&P has coiled up just like Euro.
Gold spent most of September forming a downside triangle which was broken last week. Since then it flushed down to its pre-breakout resistance.
(premium members only content below)