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Friday alone wasn't enough to give us the information we needed. Monday helped and now we have Tuesdays trading to add the the equation. lets take a look...
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SPX- The positive side....the weekly chart ( yes, it is only Tuesday) would shape up nicely if we held here or continued higher. That's a big 'if'.
The bearish side...
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Alex - Chart Freak2016-06-29 11:37:192016-06-29 11:37:19June 29 – Checking It OutFriday we saw the initial reaction to the Brexit vote, and Monday we saw some follow through. Lets look at the charts...
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From the weekend report...
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Alex - Chart Freak2016-06-28 11:54:392016-06-28 12:16:46June 28 – ContinuationsLast week the General markets went through a period of indecision. Each morning the futures were green, then the markets sold off into the close. We had the Fed giving testimony to congress and the Brexit Vote scheduled for the end of the week.
After the Brexit vote, the future went Ka-Boom, with Gold up almost $100 at one point, and the general markets ( in the US/ and globally) panicked.
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SPX - The Dow closed down over 600 points, the NASDAQ was down over 200 points, and the Spx was down about 76 points. That is a rather ugly candle.
The ICL (Lows) were not broken, but...
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Alex - Chart Freak2016-06-26 22:29:212016-06-26 22:29:50June 25 Weekend Report … KA-Boom!
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