6-Month and 5-Year Chart of the Pound/Dollar to Show Magnitude of Sell-off
1-Year Daily Chart of the SPYs
Prices have broken the uptrend started in February; they are now below the 200-day EMA and are resting on/near the first Fibonacci retracement level. Volume over the last 2 days has been very heavy. Momentum is declining.
1-Year Chart of the IEFs
In contrast, treasuries are at their highest level in a year.
Culturally constructed ignorance played a major role in the Brexit vote, as we shall see after a bit of explanation.