MBO Issue 95 (Nov 2019) Time to Sell
- Euro Not the Time to Touch It
- S&P Delaying the Inevitable Means a Steeper Correction Ahead
- Gold Shaping Up for More Upside
- Big Picture Summary
Euro another try to break the channel resistance. Outcome still to be decided.
S&P spent 3 weeks in correction and the US-China trade deal plus stellar earnings gave it the boost necessary to breakout to new all time high.
Gold found support at the highest support zone. Bullish setup intact.
The strength in S&P is reasonable given the near unlimited resources being throw behind the buyback programs by all the major component companies in the index.
The swing trade setup did not materialize as SPX successfully recovered above 2980 quickly and has been staying above that since.
Another boring month with no surprises but it looks like the delay of fireworks that was supposed to happen last month will magnify in something even more wild than originally expected.
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