etfmsolutions: BREXIT, BREXIT, BREXIT, etc.....06.16.16

Thursday, June 16, 2016

BREXIT, BREXIT, BREXIT, etc.....06.16.16

Did I mention that the BREXIT has captured the market's momentum? British opinion polls vacillate about odds for an IN or OUT vote....check with your local London bookie for the latest skew.
To my cadre of British Mosaic users...please clue me in on the current BREXIT pulse so I can adjust my bets accordingly. Current odds TODAY favor a REMAIN vote, prompting the markets to reverse from a widely based global sell momentum.
Meanwhile...the current market undercurrent is still in a sell mode prompted by China and Russia, which we mentioned earlier in the week. The FED has also revised its hawkish babble and we're now likely to see none or only one rate hikes in 2016.
Following yesterday's post...below are the 130 minute bar charts for VIX and SPY with the 2 standard deviation Bollinger Band studies set to a 14 day moving average. Today's action was a technical forgone conclusion if you are all in on the Bollinger Bands strategy.
FYI.......130 minute bars are one of my favorite analytical timeframes (much more so than hourly bars) since it clearly divides the 6.5 hour (390 minute) trading day into 3 equal sections and helps (me) to better seen how momentum and volume are progressing from close to close.

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