FX:EUSTX50   Euro Stoxx 50 index of European listed shares
Global Equities are experiencing a relief rally after a bizarre turn on events. For some reason, the brazen murder of British M.P Jo Cox turned the increasingly large "leave" vote around, and the "remain" vote regained the led heading into Thursday's Brexit vote.

The Euro Stoxx 50             Index jumped off of technical support of 2,814 but still remains in a clear downtrend of 2015's bubble-high of 3,837. Since last year's top, the index has made several lower-lows, and the current trend from the bear market bottom has etched out two clear lower-highs.

Given the state of the brief risk aversion seen last week as the "leave" vote took a pronounced lead, global were "due" for a rebound. As alerted earlier last week, the near-term momentum was set for a shift:

https://twitter.com/Lemieux_26/status/742733252323115008

If you look across European equities , the prospects are not turning out like many thought. In regards to the Euro Stoxx 50             , price action does not get interesting until a close above the near-term, broken uptrend AND prevailing downtrend is confirmed. The 200-day EMA will be a key pivot point. The index has not been able to trade above this dynamic resistance since last December.

Wait for price to trade into resistance near 3,000/025. MacroView does not expect Britain to leave the European Union, but there are far too many risks to get excited about.

Check out Bloomberg's Brexit tracker, currently showing a small Brexit lead.

For more information on MacroView's products, or general questions and comments, feel free to message us.

Also, readers are encouraged to post their thoughts and charts!

Follow MacroView CoFounders on TWTR1.45% @Lemieux_26 and @EconomicHedge
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out