MBO Issue 117 (September 2021) A Dark Future
By Lawrence
Content
- Review
- Euro Measured Move on Daily Completed
- S&P Edging Higher for a Showdown at Key STOPD Level
- Gold Bugs Have to Wait
- Bitcoin Magic
- 10-Year Note Yield on Schedule
- Big Picture Summary
Review
Euro measured move lower as expected and reaction to the support zone also as expected. Nothing new there.
S&P pushed higher to the longer term resistance line as expected. Key support line continues to rise without being challenged.
Gold found support at the longer term up channel lines but not able to produce a new up trend yet which may change this month.
Bitcoin got the lower resistance of 48000 and then tagged the crime scene 52500 right before it fells off a cliff due to completion of its up cycle. How far it will drop from here depends on several factors.
10-Year Note Yield going higher along the projected path. Bullish scenario has not changed.
August turns out to be an exceptional month with S&P edged out higher without any pullback according to seasonal effect. That, however, is not a good sign because every time that happens
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