MBO Issue 116 (August 2021) Will Fed Do the Right Thing

Content

• Review
• Euro Weekly Down Trend Intact
• S&P Drifting Higher With Serious Downside Risk
• Gold Weekly Compression In Place
• Bitcoin Daily Up Trend In Place
• 10-Year Note Yield Yearly STOPD Level Support
• Big Picture Summary

Review

Euro depressed by the previous weekly up channel bottom as expected.

VIX volatility indeed jumped and VIX put options had a few good days gaining 100% and more but that didn’t last as SPX up trend support not broken.

Gold bounced back to test the steep weekly down channel top and stuck there.

Bitcoin indeed pressed by the down trendline for weeks until a falling wedge was formed in daily. That gave it enough reason to go higher from short covering.

10-year note yield dropped to 2020 year mid and bounced. Support not breached and the bullish scenario is intact.

So July ended up as a nothing month. Maybe we will start to see more serious price actions this month.

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