Domistock Tools Used:
Assets charted: S&P 500 ETF (SPY)
The day for the British to decide if they want to leave Europe or not has come and markets seem optimistic that the current status quo will stay intact. Regardless what the outcome of the referendum will be though, DomiStock calls SPY inflated and gives a 65%+ chance it will be lower in the next 3 sessions. That’s according to the 3-period Resultant Direction of the Max Profit Loss Calculator which has turned negative, forecasting a diminishing of the demand forces on the next three sessions and an empowerment of the supply ones.
Additionally, DomiStock has called SPY inflated and has charted two resistance lines ahead of it, at $210.92 and $212.52. Finally, the Nearest Support Resistance Auto Detect tool, sees the closest resistance level for SPY being the $210.92 one, which means that with the current price of SPY being at $210.81, that level is already almost 100% in test.