The Brexit actually happened. As I type this in the early morning of Friday, June 24, the Dow futures are down over 700 points!
As I described in my last post, the Middle Section count that I have been tracking since 2014 suggested a possible low in July. The precise date was July 12, but I think there’s a decent chance the actual bottom could be somewhat earlier given that the Brexit is likely to make the markets fall dramatically.
I expect that the Jan-Feb lows of 15,400 on the Dow and 1800 on the S&P will hold. If we fall more than halfway back to those levels, I would consider it a fulfillment of a Middle Section projection, and I would be inclined to start using the upcoming bottom to project the ultimate top of this bull market.