06.27 Market Deathburger: The EuroCarnage Continues after Brexit

by John Galt
June 26, 2 016 15:30 ET

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I shall keep this as a running update as trading and markets open. Needless to say, currency markets in Asia have opened and the carnage continues unabated so look for Bank of Japan and Swiss intervention soon enough.


05:00 ET –

While equity futures are not indicating panic, the bond market is screaming a move into safety. This could be another long day and the key level to watch on the S&P 500 is 2020 as a violation of that figure at the 200 dma means more technical induced selling.

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20:45 ET –

The Bank of Japan buys dollars, sells Yen and of course, buys Nikkei futures to get a 250+ point bounce right at the market open:

And in Australia, after a -1% open, a rebound indicative that the Japanese action may be coordinated with other central banks to buy equity futures and salvage the Asian markets so they can start a counter trend rally in Europe and the U.S.

19:20 ET –

New Zealand opens down 1.18%:

18:25 ET –

Futures are off their early lows but moving wildly. Christine LaGarde of the IMF is speaking live now which is causing some early gyrations in the currency and equity futures.

In Japan, a negative opening is also on the horizon for the Nikkei 225 based on the futures market:

18:15 ET –

Gold’s gonna go Gold tonight. Let’s see if it can break out above $1340 to finish this leg up above $1400:

15:25 ET –

Forex quotes at the Asian market open this morning from Bloomberg says it all:

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