Market Pressures_

The BREXIT results surprised the market and perhaps even the “Leave” voters themselves.

Gold and Silver were in a move down and reversed sharply up. Copper was in a move up and reversed down sharply.

Crude was rising and retreated with the news.

The US Treasuries rose as a safe haven trade.

The US Dollar futures rose as the money flows came this way.

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S&P 500 Futures_

Monthly – 1889 would confirm a short move down. Trade pressures are up. The May month end closed as bullish.

Weekly – Still in in a move up confirmed by the close above 2055. Trade pressures have declined into the neutral zone. Volumes are bearish.

Daily – Short. The BREXIT drop triggered a new short at the 2036 level. Trade pressures have turned down into neutral. Volumes have changed from bullish to bearish.

The next target down is 1982 with the 1960 level just below.

1825 is the 61% target down.

1811 is the 100% target down.

Need a close above 2078 again to restart any new long trade.