MBO Issue 53 (May 2016) To Sell or Not To Sell In May
By Lawrence
Content
- Review
- Euro Going Back Down To The Crime Scene
- S&P Weekly Consolidation Continues
- Gold Significant Progress In Building Long Term Bottom
- Big Picture Summary
Review
Euro spiked higher to challenge the original resistance line at 1.16 and failed to hold above 1.15 key resistance on weekly closing basis confirming bearish monthly down trend.
S&P tagged upside resistance mentioned in last issue and topped out on the day I posted the special update. All happening as if following a script so no surprises there.
Gold chose the more bullish scenario holding up above the yearly support zone. This led to a breakout higher on its way to challenge 2015 year high as expected.
Special Notice
Why the special updates are not accessible by basic members even after the usual one month delay? It was bought to my attention that some people were ripping my trading signals and specific price targets and posted them on their websites as their own content by backdating the posts. To avoid confusion, all the special updates with specific trading setups and calls are accessible by premium members only.
I am moving the release schedule of MBO to the weekend after Non-Farm Payroll Report. There is a technical reason for doing so and a follow up article will be posted about this.
(premium member only content below)
Part of our premium service, login now or upgrade your membership to view this report
Hi LC – Maybe a dumb question but on the S&P daily chart I notice the orange channels have been drawn from 2011 reference points and carried forward to present throughout all the MBOs. How come they are still significant and would it be better to redraw new channels with more recent data?
it is actually very close to the “normal rate of rising” for S&P hence I am keeping it there.