More On “Brexit”

From Forbes:  Three Reasons Why Brexit Will Not Break The World Economy

1. Financial markets hate uncertainty, and there will be ample amounts of that for quite a while.

2. Like most divorces, it may take a long time to work this separation out fully.

3. This may also provide a wake-up call for the European Union.

More detail here:  http://www.forbes.com/sites/brucemccain/2016/06/25/3-reasons-why-brexit-will-not-break-the-world-economy/#2022c572caf9

 

What’s Next For The S&P 500

Going back 15 yrs, when the S&P 500 drops >3% on a Friday the next day has closed lower 6 of 7 with an avg drop of 2.3%.  Looks like more downside ahead when a new week begins.
Hat tip Ryan Detrick

The Advance/Decline Line Versus The S&P 500

Here’s an interesting look at some of the important stock market peaks as they relate to the NYSE Advance/Decline Line:

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Hat tip SeeItMarket.com

 

The ‘Brexit’ Aftermath

From the Wall Street Journal:  Five Ways The ‘Brexit’ Market Turmoil Could Affect You In The U.S.

No. 1:  All travel to England, Scotland, Wales and Northern Ireland Now 10% Cheaper:

After the vote, the pound fell to the lowest levels of a generation. Not since 1985 has the U.S. dollar been so valuable in the U.K.: it’s the equivalent of a 10% off sale. (There’s also a 2% off sale to Europe, as the euro got weaker on the news.) If you’d like to use your tourism dollars to boost/boycott regions based on how they voted, here’s a helpful map of the outcome by region.

The rest of the list is here:  http://blogs.wsj.com/briefly/2016/06/24/5-ways-the-brexit-market-turmoil-could-affect-you-in-the-u-s/

Hat tip WSJ.com

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http://www.zerohedge.com/news/2016-06-24/greenspan-worst-period-i-recall-theres-nothing-it

INDU

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It’s A Mess Out There

The markets are having a fit this morning following the Brexit vote.  In the last 30 years there have been three all-out panic days with the VIX(Volatility Index)+25%, Gold +2% and 30 Year Bonds +2%.  Today will be the fourth.

Sept. 9, 2008

May 6, 2010

Aug. 8, 2011

June 24, 2016

Hat tip Jason Goepfert

SP 500 Futures 12:35 A.M. Friday

Look how the Traders ran (targeted) the stops above (resistance) and below (support)

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Futures Thursday Night “Brexit” = should be a fun Cash open Friday A.M.

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Investors Are Still Cautious

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Investor sentiment is still fairly cautious despite the strong move off the May low.   As mentioned previously, we regard this as a contrarian(positive)indicator. 

Hat tip Tiho Brkan

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