Domistock Tools Used:
Assets charted: S&P 500 ETF (SPY)
The British have decided to leave Europe and financial markets worldwide are crashing. Although the most apparent trade is to take a short bet against them, DomiStock sees a 35%+ chance for S&P to be higher in the next 3 sessions*. That’s according to the 3-period Resultant Direction of the Max Profit Loss Calculator which has turned positive, forecasting a diminishing of the supply forces on the next three sessions and an empowerment of the demand ones.
*Educational note: Max Profit Loss Calculator Properties for this analysis: On the periods field write “3”, on the recent data significance field choose 1 for “weighted” and on the profit / loss range probabilities field choose 1 for <=35% .
Supportive of a 35% chance of a positive reaction for S&P in the next 3 sessions is the fact that DomiStock calls its price deflated.