Brexit Wreaks Havoc on U.K. Economy as PMI Tanks

This from Bloomberg. The U.K.’s decision to leave the European Union inflicted an immediate blow on the economy as business activity shrank at its fastest pace since the last recession seven years ago. In the weeks following Brexit, there was a “dramatic deterioration,” Markit Economics said in a one-time report published Friday. Services and manufacturing shrank…

Market Diary – Friday July 22, 2016

Directional Bias For The Day: Greater likelihood of a range bound day with higher pressure for market to decline On 30-minute chart, S&P 500 future is within a symmetric triangle; breaks in either direction have immediate resistance levels Critical support levels for S&P 500 are 2158.43, 2155.79 and 2146.21 Critical resistance levels for S&P 500 are 2173.95, 2181.30 and 2188.05 Early morning…