Stocks to Trade 6-24-16 | Historic Brexit Vote Crushes Markets

Today’s trading will see extreme, historic volatility

It is not for the rookie. It is not for those looking for a quick buck. It is for professional traders, who make confident decisions. For those who are fast on the keys and place trades with conviction.

Can you learn on a day like today? Yes absolutely. Will there be opportunity today? Yes.

Should you day trade today?

Only you can answer that. I can’t put a blanket statement on everyone, but if you are a casual self-directed trader, I would pick a fight tomorrow. Over the last 16 years I have witnessed rookie traders who blew up their account in a month taking on too much too soon. Be smart. admit where your skills are today, at this moment.

If you are a pro, go get em… You can make your month today.

Tape Reading Today: ** Trade any ideas with caution today. We are experiencing a historic 24 hours of news and volatility.

  • $AAPL broke the $93.51 level we are tracking as support. Look for it to hold as resistance for the next short. (see chart below)
  • $COF and $GS bearish tape.
  • $IBM bullish and could open near the 50 sma @ $149.89. Look for a spot to bid.
  • $UNH a bullish tape with support @ $135.
$AAPL 6-24-16

$AAPL 6-24-16

‘Panic’ and ‘bloodbath’ — analysts react to U.K.’s decision to Brexit

There’s a sense of shock in the City of London Friday morning after the U.K. voted to leave the European Union in a historic Brexit referendum.

After a dramatic and tense night and morning, it gradually became clear Britain has decided to exit the bloc it’s been a member of since 1973. Early results, coupled with late opinion polls, had indicated a win for the “remain” side, but as more results trickled in through the morning, the momentum swung to the Brexit side.

Shortly before 7:30 a.m. London time, or 2:30 a.m. Eastern Time, Jenny Watson, chairwoman of the United Kingdom Electoral Commission, made the official declaration that the U.K. has voted to leave the union, with 51.9% backing an exit vote.

The results sent shockwaves through financial markets and trading floors. The pound GBPUSD, -7.9199%  has tanked 10% to trade at a 31-year low, while U.K. and U.S. stock futures pointed to sharp losses at the open.

Analysts have reacted with surprise and bewilderment as they try to figure out what’s next for the U.K. and financial markets. Here are some of their initial reactions:

“Markets have reacted sharply to the incoming news — calling it a bloodbath is no exaggeration ..

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Stock Market Today: Map of the S&P 500

(click the map for a full view)

$SPY Heatmap 6-24-16

Brexit Wins! U.S. Stock Futures Dive, Pound Crashes To 30-Year Low

U.S. stock futures tumbled, as ongoing vote tallies showed that British voters have decided to leave the European Union.

S&P 500, Nasdaq futures lost more than 5% with Dow futures crashing 700 points. Meanwhile the U.K. FTSE 100 was indicating an 8.7% loss. The pound crashed 10.5% to a 30-year low vs. the dollar after hitting a 6-month high earlier Thursday. In Japan, the Nikkei crashed nearly 8% after triggering circuit breakers, as the yen hit multi-year highs. Gold and U.S. Treasuries also rallied on safe haven flows, while crude futures sank  6%.

Central banks have sounded the alarm over a potential Brexit, with chiefs of the Fed, Bank of Japan and Bank of Canada all citing the vote as a potential disruption to the global economy. Yellen said yesterday the decision could have consequences for financial markets, and “in turn for the U.S. economic outlook.” The International Monetary Fund had warned that a so-called Brexit risked damage to the U.K. economy.

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Chart Reading the SPY ETF

$SPY getting crushed by Brexit. Chart levels are out the window other than the 200 sma at $202.09. Day trading mode.

(click the chart for a full view)

$SPY 6-24-16

Technical Analysis | Charts of Interest

$AAPL on

Apple, Inc. May be Planning a Huge Redesign to 10-Year Anniversary iPhone

Apple (NASDAQ:AAPL) investors shouldn’t get too excited about the upcoming iPhone 7 if a new report from The Wall Street Journal is true. The tech giant may depart from its typical two-year cycle for major redesigns as it focuses on a massive overhaul to its 2017 iPhone, which happens to land on the iPhone’s 10-year anniversary. But will a delayed redesign to the iPhone’s casing actually hurt Apple?

Continue reading…

$AAPL comfortably bearish for two months. Will open below the $93.51 support, look for that level to hold as resistance. A new short sale has a target of $90.

(click the chart for a full view)

$AAPL 6-24-16

$AAPL 6-24-16

Stocks to Trade 6-24-16 | Friday Edition

Short-Term Trading Momentum:

Positive the last 20 and 5 trading days | closed 2% higher from the open: BBBY, VMW, SM, COP, MPC, CAR, BHP, WDC, WPZ, JOY, LNG, MBLY

Negative last 20 and 5 trading days | closed 2% lower from the open: luv, alk

Quarterly Order Flow:

Bullish Stocks to Trade: CLR, DVN, CVX, APC, AMZN, IBM, UNH, LULU, DLTR, RRC,

Bearish Stocks to Trade: alk, tsla, aapl, kmx, ctrp, prgo, nflx, cof, gs

2x Normal Volume: BBBY, LUV

Inside days: bsx, syf, ko, wmt, jd, dvn, gild, bmy, mgm, teva, kmx, myl, rrc, jwn, cog, prgo, eog, bidu, tol, mdvn

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