Britain exited the EU. Fourth largest economy in the world. As you can see the market reaction which I have felt was over due anyway. The next support line is DOW 17250 which might not hold. 15500 could be in the cards, margin calls can magnify the reaction. My personal feeling`s are Britain`s exit is too big of a deal for any rebound at the moment. The dollar most likely will keep rising.
Gold and Silver presently have separated themselves from a rising dollar with folks going after safety. The market most likely will take a little while to digest the geopolitical move. It`s probably not a good idea to think stocks are cheap for now. Let`s see where the historical P/E`s go to in the present day market. Even with that one has to remember the market anticipates the future and if companies earnings are going down then the PE will rise making the risk higher.
Natural Gas has risk of dipping down some as well as oil.
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