06/24/2016 Live Update

[MrMiyagi]

qqq

[Daniel]

XRT very strong. All those cheap british goodies and euro-trinkets for the domestic consumer to buy.

[Al_Dente]

624heat.png.png

as red faced as all the BREXIT pollsters

fair to say "everyone" expected remain
except Gundlach who said he sold all his euro stuff b4 the close yesterday, and he is a straight shooter, no bs kind of guy

[QED]

David Erroll@David_Erroll:
Keep in mind, "Lord of the Flies" was, in fact, about immature UKers trapped on an island … just sayin’

[Daniel]

XBD, XLB lod

Transports close (below 7400 would be new lod)

[fehro]

624heat.png.png

as red faced as all the BREXIT pollsters

Not at all Fehro, you're being cruel.
Many of the polls predicted a close outcome, none predicted a landslide in either direction, and some were saying narrow victory for Leaving.

yes I know.. .. https://mishtalk.com/2016/06/22/last-fo ... y-the-key/

[sleeman]

624heat.png.png

as red faced as all the BREXIT pollsters

fair to say "everyone" expected remain
except Gundlach who said he sold all his euro stuff b4 the close yesterday, and he is a straight shooter, no bs kind of guy

Soros comes out of retirement after years, and shorts the market. Then he rants about the dangers of a Brexit days before the vote....

[Cobra]

members only update at 12:02 pm
http://www.cobrasmarketview.com/2016/06 ... ay-update/

[JFR]

Historic night. A shocker. Here are the overnight gaps down on ES, NQ and YM. The action seems quiet this morning so far.

[JFR]

And SPY, sitting on a support level.

[Junior Buffett]

Netherland, France, Denmark, Sweden are asking for referendum....

[fehro]

LOD goes.. looking for 20w 2039, then 50w 2023, then 2020 200d… if any of those go..
add to SPY P, VXX C

SPX new LOD.. NDX /RUT lag.. need new lows on them too

[Al_Dente]

VIX is up 33.9%

[JFR]

DOW 30. Walmart, WMT, a tiny bit of green in a sea of red.

[fehro]

Netherland, France, Denmark, Sweden are asking for referendum....

other countries.. talk exit.. watch the US dollar.. explode up HUGE mind your gold..

60m DXY bull flag Daily below

[JFR]

Recap from IBD ...

Cameron Resigns; Pound, Euro & Oil Dive; Gold Surges

British Prime Minister David Cameron, who had placed the referendum in front of U.K. voters, announced he would resign before the Conservative Party conference in October. EU leaders in Brussels demanded Britain quickly engage in exit talks and invoke Article 50, which sets a two-year deadline for exit, according to the Financial Times. Cameron reportedly declared those matters would be up to his successor.

Leaders of both the Bank of England and the European Central Bank said they were prepared to provide additional liquidity, as needed, as markets and currencies adjust to the change. Both banks reported extensive preparation for the contingency. The Swiss franc rose sharply, spurring the Swiss Central Bank to the first central bank currency intervention following the vote.

Both the euro and the pound plunged vs. the dollar, with the pound diving to a 30-year low and the euro suffering its worst decline on record. Europe's benchmark Brent crude oil futures swooned 5% lower. Gold spiked nearly 6% to above $1,334 an ounce. The dollar fell hard against the yen. U.S. bonds soared, sending the 10-year yield down 20 basis points to 1.55%.

Here's where markets stood:

Europe plunged. The French CAC 40 was down 6.9%, and the German DAX fell 5.9%, but the British FTSE 100 was only off 2.2%, well above its opening low. European banks were crushed, with U.S. shares of Royal Bank of Scotland (RBS) and Barclays (BCS) both down more than 20% intraday.

Asian markets, except Japan, closed off their worst levels. The Shanghai composite closed 1.3% lower; the Hang Seng index was down 2.9%. The Nikkei fell 7.9%, though Japan's market closes earlier than its Chinese peers.

West Texas Intermediate crude futures for August delivery fell more than 4%. Gold was up 5%, or $67, to $1330.

The dollar soared 2.5%, while the euro lost 3% and was trading near $1.10. The pound was slammed, collapsing 7.9% and trading near $1.38, a 30-year low.

The major averages came off their lows at midday Friday, after plunging at the open on Britain's decision to exit the European Union. Priceline (PCLN), Goldman Sachs (GS) and JPMorgan (JPM) fell sharply.

The Nasdaq was down 3.1%, led by declines at Apple (AAPL) and Amazon.com (AMZN). The S&P 500 dropped 2.6%, and the Dow Jones industrial average was off 2.5%. Volume in the stock market today was running sharply higher compared to Thursday.

Banks and travel stocks were lower amid fears that Britain's exit from the European Union would damage the region's economy and cause turmoil in financial markets. Utility and mining issues were higher as investors piled into defensive sectors.

[Al_Dente]

NY declining stocks are 5.0 x advancing stocks
NY declining volume is 7.9 x advancing volume

NY declining stocks are 7.3 x advancing stocks
NY declining volume is 7.2 x advancing volume
Started this morning near 20x

[Al_Dente]

"This is the worst period I recall since I've been in public service. There's nothing like it, including the crisis.”
[Douchebag Greenspan]

[QED]

"This is the worst period, I recall since I've been in public service. There's nothing like it, including the crisis.”
[Douchebag Greenspan]

He looks like he died years ago ... maybe he did, but doesn't know that either!

[QED]

Dennis Dick ‏@TripleDTrader:
“Expect more volatility on the close - the Russell rebalance is today.”