Indications are that post-Brexit-vote bottom in the stock market is not yet in, but plenty of attractive opportunities are developing that may turn out to be a bonanza for astute long-term investors willing to patiently scale into them.
Let’s start with two charts. The first chart is a tick chart of S&P, gold and silver futures. Since most investors use the SPDR S&P 500 ETF Trust SPY, the SPDR Gold Trust GLD, and iShares Silver Trust SLV, normally we would have used these ETFs in the chart. However ETFs do not trade overnight and significant action has occurred in overnight sessions. For this reason, it is important to look at a futures chart. The second chart shows various levels where it may make sense to scale in to special opportunities if the market continues to fall.
Please click here for an annotated chart of S&P 500, gold and silver.
Please click here for levels to buy special situation.
Outside day
An outside day is formed when the high of the day is higher than the high of the previous day and the low of the day is lower than the low of the previous day. As the chart shows, S&P futures formed an outside day. This action is not visible on a chart of SPY. In the present context, the outside day predicts more weakness punctuated by bounces…Read more at MarketWatch
You are receiving less than 2% of the content from our paid services …TO RECEIVE REMAINING 98%, TAKE A FREE TRIAL TO PAID SERVICES.
Please click here to take advantage of a FREE 30 day trial.
Check out our enviable performance in both bull and bear markets.