Charting the Brexit damage – outside of Europe

Weekly Update

July 1, 2016 Update


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Charting the Brexit┬ádamage – outside of Europe

We might as well start where we left off last week. Then, we pointed out that the Dow Jones Industrial Average (DJIA) remained within its trading range despite the Brexit plunge. Monday’s trade this week punctured that pretty picture by dropping the DJIA below the line we drew thus heralding a change in market tone from kind of, sort of, maybe bullish to more of an unhappy view. By week’s end, however, the tone had dramatically flipped back as if the Brexit vote never happened. (more…)