MBO Issue 73 (Jan 2018) End of Socialism

By Lawrence

MarketBiasObserver

Content

  • Review
  • Euro Hidden Strength
  • S&P Yearly Range Expansion Target Reached
  • Gold Bullish Scenario Taking Shape
  • Big Picture Summary

 

Review

Euro cleared 1.19 which invalidated the short term bearish scenario. It is now testing previous year high.

S&P continues to rally into the last week of December as expected. First week of January gave us a surge to above 2700 that is likely the result of retail traders piling into the stock market in the beginning of the year.

Gold has successfully defended its support and rallied higher. Bullish bias worked out nicely.

 


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Comments
  • smilingsynic January 13, 2018 at 9:52 pm

    Regarding S&P, trendline overshoot on the monthly, going back from the break from consolidation two years ago

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