MBO Issue 134 (February 2023) Both Sides are Wrong

Content

• Review
• Euro Oversold Condition Neutralized
• S&P False Breakout
• Gold Enters Compression Phase
• Bitcoin Daily Upside Target Tagged
• 10-Year Note Yield In Wait and See Mode
• Big Picture Summary

Review

Euro instead of starting its pullback below the resistance zone, popped into the zone and rejected by the top of the zone.

S&P “Every drop will be met by extreme buying” materialized.

Gold took off to 75% of previous year range and stalled.

Bitcoin channel breakout to the upside so tagged the resistance zone and now stuck.

10-year note yield pullbacks to weekly support.

Aside from Euro slightly stronger than expected, the rest are behaving well.

February will be sometime completely different starting this actual Chinese New Year on the 4th.

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