The Dow has been bouncing off the Reversals as well. Despite being above 17800, it would fail to close above that. The question becomes WHEN will the Dow breakout to test new highs with the next target zone in the 21,000 to 23,000 area? With the closing on Friday below the first Minor Weekly Bearish […]

The true impact on Britain and Europe will start to become visible rather quickly. It is absurd to think that anything has to change in respect to trade between the EU and Britain. What this means is that Britain will not be subservient to Brussels and will be in the same position as the United States. However, our […]

Brussels will now try to punish Britain as they punished the Greeks for daring to vote against them. Our sources are already saying the attitude behind the curtain is turning nasty, as in how dare those “limies” vote to leave. The derogatory comments remain off camera, which is quite telling. Brussels will try to be hard on […]

Interesting price action – it is the UK that is leaving Europe and yet we saw the DAX fall 6.8%, CAC -8.35% and IBEX down 12.35% whilst FTSE declined just 2.8%! Bank share were hit everywhere with some of the large institutions (Deutsche Bank, Barclays and RBS) falling between 14 and 18%. The afternoon behaved […]

The Dow has fallen in a knee-jerk reaction to BREXIT, which really is hype thanks to politicians. The gains for Britain are clear. It escapes the forced immigration and it escapes from EU draconian regulation. It is effectively the same as the American Revolution where the slogan was “no taxation without representation,” and the EU structure […]

COMMENT #1: Marty, Socrates just beat every polling organization out there. The bank I work at conducted its own poll and said remain has it. Gold fell and bounced off of 1206 you said was the line in the sand and screamed up and bounced off the monthly bullish reversal which was your line above. […]

As we witness the biggest fall in GBP in over 32 years, UK bank stocks are declining anything from 5% (HSBC) to 25% (Lloyds). Gold rallied and there was a flight to safety within the government bond markets. The UK population awoke this morning in the confidence that democracy has prevailed. In Boris Johnson’s comments […]

Private Blog Metals Update

  The pound sterling had a smashing day ranging between 15016 and 13226; penetrating the 2009 low of 13508 as well as the 2001 low of 13680. That leaves the prior low that formed in 1985 of 10520 on the cash (103 futures). This is rather important for it implies that we should see that […]

  Exactly on our cyclical model, the UK voted to leave the EU (52% to 48%) in a historic referendum after 43 years (half 8.6). David Cameron has announced he will resign as prime minister in October, and all one can say is good riddance. Cameron is stepping down despite the fact that 84 Eurosceptic Tory MPs […]