Jun 23, 2016
The move higher lasts too long and I think we have different pattern. I have this suspicion since two days, but I wanted to update the charts tomorrow when the volatility is behind us for more accurate charts. I post them now so that you know roughly how the idea looks like (I receive questions what is going on) maybe it is better this way and I will adjust the charts if we have too much volatility. The DAX is finishing impulse higher and correction lower is expected. EUR/USD is finishing zig-zag higher and should reverse. The signs are for a sell the news event, but not sell off. The only chance I see for the expanded flat to play out is a surprise "Leave EU" today than we can see a sell off to 2000.