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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (52476)	6/24/2016 12:59:50 PM
From: Johnny Canuck	Read Replies (2) \| Respond to of 69321

Looking at my watchlist the pullback on individuals stocks has been minor and the trading very controlled. The almost 3 percent sell off in the DOW indicates the Brexit vote was unexpected by large institutional traders, but the fundamental fallout for the US economy should only be increased global uncertainty which should not have lasting effect on the US economy. I think we still will see a 10% or more correct due to the fact the indices are at historical P/E highs but not now. There appears to little catalyst to rally the stocks further due to muted growth. The indices have been going sideways for a while, the longer it goes that way without an upside break out the higher the probability the indices resolve the pattern to the downside. I had some stink bids put in on some stocks 2 support level below yesterdays trading but so far not even close.