E Mini S&P Midcap Brexit Aftermath.

 

EWY00-June-24-2016

 

The Midcap index always seemed to shape an impulse very well. It also reacted negatively to the Brexit hype, but it sure looks like a single zigzag correction is in progress at this time.  This crash is only part of a correction and even thought it looks great as a zigzag there could be an expanded pattern down at my “A” wave in Minuette degree, and this would then make it a flat correction.  

This Midcap  chart would have to run and run if the “big one” is here, so the next week should give us more time to confirm a potential correction.  There is a small gap way up higher which would also get filled in another bullish phase. I have typed well over 1500 words today, so I need a break, but I will look at gold stocks and HDGE and post them this weekend.