MBO Issue 97 (Jan 2020) It Is All About the Election
By Lawrence
Content
- Review
- Euro Decision Time
- S&P New Year New Challenges
- Gold Main Upside Objective Fulfilled
- Big Picture Summary
Review
Euro year 2018 low resistance retest right at the end of last year and still failed to clear the resistance. Nothing new there.
S&P 3060 support never challenged during the holiday season. Shorts have no place to hide as S&P printing new all time high all the way going into end of year 2019 and blasted even higher going into first NFP week of 2020. Without key support zones being challenged, this is the expected outcome.
Gold blasted higher to new high right after the end of year 2019. Now that the expected push higher is in place. We have to re-evaluate the situation.
Basically last month was typical holiday season trading without much surprise.
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