Dear Members,
Right now all major currencies are collapsing, Pound is down 1280 pips, Yen was up almost 600 pips, and rest of currencies down by 3%. On other hand all major Index futures are down big around 3.50 to 5%. Gold is up $95.00 and oil is down to $2.30. Bond prices up more than 5 points.
This is all happening due to Brexit vote favoring exit from EU. This is historic event have taken place in our life time. This kind of move we saw on Lehman news. Pound moved like this in 1985. This is free fall and no one has idea what to now.
My answer is very simple, this is just market forces and computers in electronic sessions is created havoc but once real market open the story will be different in the few days’ time trading sessions.
Previously we mentioned that dollar index won’t able to hold above 96.50,
Bond above 172 level,
Yen maximum 0.9888,
Gold maximum higher side $1348 levels and will reverse big way from that level
S&P can test 2017 level or 1883 in the worst case scenario but will rebound big way.
This is same kind of Planetary positions arrive like February, and we showed some concerned in this week newsletter but we were not able to put out message strongly.
Anyway, there are all great trade and we are sure by the end of September who story will different.
I would like you to remain sideline without any leverage trading, but those who like to buy positions in market can go ahead but remembers that till 17 July market may trade uncertain. Most safe period will be 17 July but those who has long pocket can start accumulating positions within the next three trading days slowly.
Down side is very limited because there is not really any major astrological combinations.
Thanks & God Bless
Mahendra Sharma