The S&P is on course to tag upper broadening wedge resistance. Watch for a MACD trigger 'buy' as bulls look to press their advantage.
The Nasdaq looks caught in the middle of a trading range. Volume did climb to register an accumulation day, as stochastics [39,1] rolled high off what looks like a successful bullish test.
The Russell 2000 gained 2%, but little else changed. While it's still a few days away, the MACD trigger 'buy' looks on course to occur, which would be a strong bullish signal for further gains. Rate-of-Change has remain dogged in its defense of the bullish zero line too.
Tomorrow will be about the gap from the confirmed Brexit result, and if markets make any attempt to fill it. The 'sell' the news crowd may look to attack the likely gap higher, so if such selling is rebuffed in the first 30 minutes of trading then the rest of the day's action is likely to belong to bulls too.
I trade a small account on eToro, and invest using Ameritrade. If you would like to join me on eToro,
register through the banner link and search for "fallond".
If you are new to spread betting, here is a guide on position size based on eToro's system.
Accepting KIVA gift certificates to help support the work on this blog. All certificates gifted are converted into loans for those who need the help more.
Follow Me on Twitter
Dr. Declan Fallon is the Senior Market Technician for ChartDNA.com, and Product Development Manager for FirstDerivatives.com. I also trade on eToro and can be copied for free.