MBO Issue 137 (May 2023) Do Fundamentals Matter
By Lawrence
Content
- Review
- Euro Not Able To Break Its Weekly Down Trend Yet
- S&P Forming a Rare Pattern
- Gold Bulls Have a Tight Schedule to Meet
- Bitcoin Buying Time Before Next Move
- 10-Year Note Yield Downside Pressure Building Up
- Big Picture Summary
Review
Euro keep trying to push higher but not able to clear the resistance so far.
S&P weaken but bulls keep trying to buy the dip to squeeze the shorts.
Gold pushed higher as expected and followed by very strong reaction challenging the major resistance above.
Bitcoin failed to clear its long term resistance all month.
10-Year Note Yield stuck at support.
Overall a quiet month with no significant directional move. What is in store for us this May looks completely different.
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