MBO Issue 28 (Apr 2014) Long Term Consequence
By Lawrence- Review
- Euro Not Your Usual Top In The Making
- S&P At Opposite Extreme Of Nasdaq 100 In Market Breadth
- Gold Rejected By The Resistance Zone
- Big Picture Summary
Review
Euro held 1.372 support, zoomed to previous year high and then pushed to almost 1.40. That is the expected bullish scenario. Euro collapsed from the zone with a 1-2-3 top back down to channel mid. Struggling there since.
S&P we got the 30 points down swings I was looking for. S&P consolidated within the range to resolve the overloaded condition I mentioned last time.
Gold popped higher right into the sell zone and collapsed since.
The most important event, however, was the tension in Ukraine played out exactly the way it went back in 2008 similar to the Georgia crisis. It is so simple yet the so-called experts in international issues all failed to see it as it is. Gold and the stock markets all followed the playbook nicely.
All in all everything happened the way they were intended to, giving us a great month in trading.
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