MBO Issue 47 (Nov 2015) The Almighty US Dollar
By Lawrence
Content
- Review
- Euro Retest of Year Low in Play and Potential Downside Targets
- S&P Fight at Previous Year High
- Gold in Weekly Bear Flag
- Big Picture Summary
Review
Euro challenged channel mid and stalled from there. This gave us the target of channel bottom. Euro eventually got there and broke below.
S&P formed a bottom as expected and took off. Breadth models correctly tell us S&P was likely to go higher.
Gold bear flag scenario materialized. Up drift to resistance and stalled.
(premium member only content below)
Part of our premium service, login now or upgrade your membership to view this report
Comments
Test of year low in gold underway (GLD). Higher than even odds of a failed breakout, but best to wait for confirmation.
Weekly close back above the intraday swing high just made would be a strong confirmation.
My July-December levels points to 99.89 as a target. Considering buying calls at the level. Perhaps I should lie down until the feeling passes.
If the position is for very long term, would physical be more appropriate?
http://www.zerohedge.com/news/2015-11-29/will-next-week-be-start-crash-us-dollar