Last Friday, June 24th is over. I want to let you know that it was destined to be volatile and actually wasn’t entirely due to “Brexit”.
Brexit, Russell & Media:
June 24th was destined to be one of the busiest trading days, as well as volatile, of the year. It was going to be with or without the EU referendum.
The United Kingdom’s vote to leave the EU was a bit surprising and may have caused some short-term price action. None of which is reflective of the underlying fundamentals of your investments.
The media did a real disservice late last week by not reminding investors that June 24th was the annual rebalancing day of the Russell indices.
Large trading volume was destined, planned and done. The fact that the “Brexit” vote came day before is nothing more than a coincidence and should not concern you in the least.
Investment plans and strategies may actually benefit from this one.
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