Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Trigger Time For Gold Stocks
By: Stewart Thomson

Chilton says CFTC found much evidence of silver rigging; Schiff calls rigging 'rumor'
By: Chris Powell

Unthinkable!
By: Gary Christenson

Powell and Gold between Inflation and Global Slowdown
By: Arkadiusz Sieron

Freezing Temperatures Could Heat Up Natural Gas Prices
By: Frank Holmes

Stocks are Now in ‘Complete Bitcoin Territory,’ Asset Manager Says
By: GoldCore

Asian Metals Market Update: Nov 20 2018
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain While Stocks Drop
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 19 2018
By: Ira Epstein

Handicapping the Precious Metals Through Year-End
By: Michael Ballanger

 
Search

GoldSeek Web

 
Brexit's Effect on Markets a Tad Overdone

By: Rick Ackerman, Rick's Picks

 -- Published: Tuesday, 28 June 2016 | Print  | Disqus 

http://www.rickackerman.com/wp-content/uploads/2016/06/Dow-would-need-to-fall.jpg

The selloff since Friday may seem momentous to trade-desk denizens, but so far it has barely caused a blip on the Dow’s weekly chart (see inset).  Would another thousand-point selloff seem scary? As you can see for yourself, even that would not exceed any important prior lows. It would in fact require a further decline of 1638 points to do so — to suggest that the post-Brexit plunge is anything more than a nasty shakedown by those who control the markets with practically unlimited borrowing power.

The foregoing is intended to remind you that Brexit is not necessarily the end of the world. Indeed, there are as many positive arguments to be made for the outcome as negative, and that’s why the reaction of securities markets globally seems greatly overdone. Yes, we still should keep close tabs on the selling, since there’s always the chance it could snowball into a bear market that seems long overdue. But my gut feeling is that stocks will reverse shortly, perhaps as early as Tuesday, a statistical turnaround day. If so, a logical price where this might occur is from 17008, the ‘secondary’ pivot of a minor pattern on the 15-minute chart (a=18011, b=17356); or perhaps from 16845, the pattern’s ‘d’ target. Neither of these Hidden Pivot supports corresponds to the 1973.50 target I’ve proffered for the E-Mini S&Ps, so both vehicles will have to be monitored and traded separately, presumably with very tight stop-losses if bottom-fishing. Alternatively, if these levels give way very easily, it would imply significantly lower prices ahead. We’ll wait and see. Visit our 24/7 chat room and share timely ideas and real-time results with great traders from around the world. Click on the link for a free trial subscription

 

 


| Digg This Article
 -- Published: Tuesday, 28 June 2016 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.