MBO Issue 102 (Jun 2020) 2019 Year Close Matters
By Lawrence
Content
- Review
- Euro No Reversal Yet
- S&P Back to the Breakdown Crime Scene
- Gold Weekly Consolidation
- Big Picture Summary
Review
Euro compressed into a tight range last month and got a breakout upside. Breakout target the downside channel top tagged and stalled. Price instability continues and no change in trend yet.
S&P tagged the 75% bounce line as predicted thanks to Fed creating the illusion of stability. As of NFP Friday it has tagged 3200 level. The central banks are surely very busy all month popping the stock markets everywhere.
Gold stuck in the projected range as expected. Gold bugs do not understand that it takes time for all markets to move. Gold is the same as any other market. It cannot go straight up all the time.
Volatility dying down is a good sign. Trading a “near normal” market is better than a crazy one.
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