MBO Issue 132 (December 2022) This Is Not 2008 Redux
By Lawrence
Content
- Review
- Euro Heading Towards Resistance
- S&P Not As Bullish As Many Think
- Gold First Stage of Weekly Rally in Place
- Bitcoin Not as Weak as Many Think
- 10-Year Note Yield Dropping Faster Than Expected
- Big Picture Summary
Review
Euro breakout above 3rd channel resistance and is now heading for the red resistance zone.
S&P did not drop to year low thanks to Powell “pivot”. Not once but twice. The short term structure is now distorted and will take time to restore orders.
Gold bottomed as expected. There should be some more room to go.
BTC went lower as expected.
10-Year Note Yield short term top brought it back down to previous swing high.
November turns out to be quite predictable. But will we get a Christmas rally as everyone else expected?
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