Brexit, Pursued by a Bear

Extra credit if you caught the literary reference in today's title.

062516spiral

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The five tops hang from the Spiral not unlike an Alexander Calder mobile.

Mobile c.1932 Alexander Calder 1898-1976 Lent from a private collection 1992 http://www.tate.org.uk/art/work/L01686
Mobile c.1932 Alexander Calder 1898-1976 Lent from a private collection 1992 http://www.tate.org.uk/art/work/L01686

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062516nikyenbig

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062516nikspx

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062516yengold

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Expected Net Line Sell Triggered

Thursday’s post noted the intraday net line sell would likely result in a daily net line sell once the intraday target was hit. That daily net-line close below 2094 occurred today, and this net-line sell has a target of 2023. The market is deteriorating very quickly following this Spiral Calendar top. If we are only three days into a three week move, there will be significant damage.

061316spxD

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Five Bearish S&P Charts

Add up to a sell now.

060916spxAD

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060916spiral

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Unfolding perfectly here.

060916135

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The intraday 135-minute RTH eMini chart issued a net-line sell this morning. The target is now at 2085.

061916spxD

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If that 2085 target is reached in the next few days, it implies a likely trigger of the 2094 daily net-line. A confirmed sell on the daily will target 2020, or a 4% decline from current levels.

060916combo

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The combined Solunar/Tidal is a few days away from a very negative, three-week period.