Index Support and Resistance for Friday, 6/24/2016


  Good news.  33 major USA banks passed their FED stress tests.
 The BAD news:   Just in time, ‘cuz it looks like the UK voted to leave the EU which, at approximately 2:20 AM ET has the US markets E-mini futures deep in the RED.
  • The DJIA (mini) is showing a -610 points. 
  • The Nasdaq (mini) is showing a -199.50 points. 
  • The S&P500 (mini) is showing a -93.00 points. 
  • The Russell (mini)  is showing a -72.30 points. 
  • Crude is at $47.64 down -2.47 or -4.93%  
  • GOLD is at 1320.40 up 57.30 or +4.54%.  
  • SILVER is at 17.70 up 0.347  or +2.00%.   
  Of course I had quite a few captions for the above sketch … like the HMS Brexit setting sails to exit the EU … but I thought I would be using the sketch of the HMS Brexit furling sails and dropping anchor …
On Thursday, with the UK “Brexit” vote in progress, U.S. stocks made their biggest gains in a month as investors and traders grew optimistic that Britons will vote to stay in the European Union (EU).   Investors and traders  bought stocks and sold bonds, sending bond yields and banks higher.
   The rest of the story is still in draft … and I’ll be back to add the rest below.

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