By now, everyone has heard the doom and gloom from both sides of the debate and now it is up to the people of England to make their voices heard.   (Maybe I’m in a bubble but only 'Stay' argument I’ve heard is from my 19 year old son who goes to school in London.  Lots of his friends are worried about restrictions on travel and higher tuition for EU students and they are voting to stay).

The polls are tight but the bookies say ‘Remain’ wins big time. 

US equity markets have been moving sideways in a decided trading range for more than a year and that’s actually good news.   A lot of money has been made since the bottom in March 2009 and for the most part, smart money has held, even through violent down drafts.  But, at some point all patterns are broken and when they’ve been in place this long the follow-on action can be dramatic.  On the upside, key equity indices could clear pivotal resistance points with a ‘stay’ vote that opens the path to re-testing all-time highs.

Short Squeeze!

I think some shorts will decide to cover and reload if the market takes off as buyers will flock not only to momentum names but also broken names that might be oversold.

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