Bank of America Head Technician: “Our Bullish View Is Invalidated, Going Neutral; Below 1806 Spells Trouble”
by Tyler Durden
ZeroHedge.com
01/24/2014
Yesterday’s BofA’s MacNeill Curry warned that once above $1270, gold becomes “explosive” as the squeeze trap slams shut, which explains why the shorts are desperately defending the critical resistance redline. Today, the chief technician of Bank of Countrywide Lynch looks at the two other key correlation pairs: the S&P500 (via the Emini ESH4) and the USDJPY, which by virtue of being the key funding pair determines the price of risk in virtually every corner of the globe. He is not too happy with what he sees.
The Rest…HERE
