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Global Decline Post BREXIT-OVERNIGHT TRADING

FROM 11:30-12 Midnight- THURSDAY 6/23/16- 

BBC and sky news have officially called the UK referendum in favor of BREXIT.. . the Pound Sterling, "Cable" has just had its LARGEST move on record.. down to 1.32 from 1.50.. down over 10.5%. the NIKKEI is lower by more than 1300 points or 8%. S&P futures are trading lower by 4% and DOW futures lower by more than 600 as of 12:08 am. Treasuries rallying hard, with 10-year yields down 14% to below 1.50 while 2 yr yields lower by 30%, at .54 bps and just yesterday were trading just shy of .80. a HUGE HUGE move- US Dollar index higher by a full 3% with DXY up by more than 2.55 to 96.087- a historic day of BREXILITY given this near certain BREXIT which throws most of the EU into turmoil potentially with others soon to follow- Gold higher by 50 but following the initial shock, GOLD likely to trade lower after things calm given the USD gains and commodities should also fall off- EURUSD is at 1.10. a clear break of a key trend which if holds would be very bearish for the Euro going forward- For equities given the recent strong breadth and acceleration in momentum, my thoughts are that Friday's selloff proves minimal and a buying opportunity given the amount of fear, For now though, globally most assets falling hard overnight

A huge move very quickly in S&P which has erased all price action in the last month, and should have strong support near 1992, and/or 1971-2-

Pound Sterling briefly reached the lowest levels since the 1980s near Midnight on Thursday, undercutting lows from 2001-  a Huge overnight selloff which likely should stabilize and attempt to bounce a bit from very oversold levels but overall a damaging technical move to the longer-term chart