MBO Issue 118 (October 2021) Breaking Down of Multiple Narratives
By Lawrence
Content
- Review
- Euro Following Its Yearly STOPD Play
- S&P Weekly Pullback May End Soon
- Gold Still No Strong Direction Bias
- Bitcoin Not Your Usual Uptrend
- 10-Year Note Yield Going Higher as Expected
- Big Picture Summary
Review
Euro stays weak as expected and flushed down to down channel support.
S&P traded down to the red support line and flushed to near the 4250 area mentioned last time.
Gold could not push higher as expected and still struggling in the same zone.
Bitcoin managed to break its down cycle within a month instead of the expected 2-3 months proving it has hidden strength.
10-Year Note Yield moving higher along the expect path.
Overall a month that was quite easy to read.
For October, the game will be a lot more complicated.
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