Thursday, July 7, 2016

Brexit has been erased

BREXIT was a big deal a week ago but it did little to move the market. The initial sell off seemed like this is what the market has been waiting for to crash. Take a look at the chart today and it seems like BREXIT never happened, but the problem is it did happen.

As for its impact on the markets, I do not know if it has any significant impact on the US economy or even the the British economy, maybe it does. Anyone trading or watching this market for the last 6-7 years would know that this is a bull market which means that every dip is a buying opportunity and that is what just happened in my opinion. There probably are a wast number of traders who started their trading careers during this period of the bull market and hence it is probably their one good strategy to buy any sell offs or dips.
As for NDX I think it has to overcome $4462 to continue the uptrend.

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