Stocks continue to build cause, a process of slow accumulation over time in the Cycle of Accumulation and Distribution, because of this stubbornness. Waves of short covering within cause are slowly draining trading accounts of the bears since 2014.
Black Wednesday, an event seen through the eyes of fear today, will be viewed as the trigger point for massive rally in US Stocks eventually. This only comes after the bears are destroyed either in a bear trap decline or through endless churning and forced short covering.
Headline: London traders brace for biggest night since 'Black Wednesday'
LONDON (Reuters) - The world's biggest banks including Citi and Goldman Sachs will draft in senior traders to work through the night following Britain's referendum on EU membership, set to be among the most volatile 24 hours for markets in a quarter of a century.
A vote to leave the European Union on June 23 would spook investors by undermining post-World War Two attempts at European integration and placing a question mark over the future of the United Kingdom and its $2.9 trillion economy.
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