Best Financial Markets Analysis Article XEU finally cut loose its supports and crossed the 50-day moving average this morning. This is the Wile E. Coyote moment when he finds there is nothing to stand on anymore.

What is more, there is some “extra payback” for all the lies and deceit by the Euro Politicians in the form of a potential Cup with Handle suggesting a probable target near 80.00.

In reality, these same politicians have been exacerbating the bad conditions in Europe by keeping the Euro high in order that their banker friends may be paid. Now for the come-down.

GLD took a tumble this morning, breaking through its Orthodox Broadening Top formation and achieving new lows. GLD/gold are now beginning their crash phase. There may be a potential bounce at mid-Cycle support at 161.09, but his ETF is now in free-fall territory.

TLT has also fallen out of its support cluster and appears ready to challenge mid-Cycle support at 120.59. It also appears that the extra extension in Minor Wave 2 has added a Handle to a Cup in TLT with a target of 72.88. I’ll post it on the chart later.

This will be a very interesting decline with connotations of a very chaotic and heated election.

Regards,

Tony

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