MBO Issue 121 (January 2022) Let’s Pray
By Lawrence
Content
- Review
- Euro Long Term Up Channel
- S&P Not Ready for Serious Correction Yet
- Gold Need a Reason to Move
- Bitcoin Hanging on a Thread
- 10-Year Note Can’t Lie
- Big Picture Summary
Review
Euro stunned and stuck at the neutral zone as expected.
Powell and gang defended S&P going into 2021 year end right on schedule. However, their FOMC minutes shocked the world and destroyed the first week of January.
Gold is stuck as expected.
Bitcoin toasted. The existential threat mentioned last issue is real.
10-Year Note Yield jumped back up as expected and following the expected slower path to go higher. Powell can do all he wants with YCC but real interest rate is going higher that he can’t stop.
Are we going to see a correction in the stock market more than 10% like what Dennis Gartman says? We’ll see.
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