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We are THAT much closer to the Brexit vote and it is being discussed on any and every financial media outlet available. Here is the 'kicker', did you know that it is forbidden that the vote be reported by the British media after the voting begins? Yes, that's right, they can report on it right up until the voting begins, and then there will be NO UPDATES all Thursday, no exit polls, no nothing. Until all the votes are counted, the British media is forbidden to report on it. So Thursday is the last day that the markets will function as pre-brexit markets. Are you ready for more of this...
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SPX - Not very dramatic so far, but it is holding above the 50sma and remains close to former highs.
What else have we seen this week?
Read MoreSo far this week is pretty much playing out as expected with the combination of the Fed testimony and the upcoming Brexit Vote, but a comment by Tess in the chat area had me wanting to take a closer look at Precious Metals. Things are still exactly as expected, but a slight variation in cycle count may be in order. Lets have a review of our markets first...
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SPX- As expected so far
Read MoreMonday we awoke to a Gold and Silver slam down, and the futures for just about everything else was pointing to a higher open. As the day went on, Gold and silver went higher and the general markets sold off into the close. Tuesday, the futures show pretty much the same. Will today bring what we saw yesterday? Janet Yellen is testifying before congress on Tuesday and Wednesday, and Thursday is the Brexit vote, so it seems that many do not want to commit ahead of time, we may just get more of the same.
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DJIA- The Dow regained the 50sma intraday, but then sold off into the close.
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