Micron Technologies (NASDAQ:MU) has shown how important it is to take profits into the highest probability liquidity zones. Now that the blue zone has been tested, the selling pressure brought in by the Brexit vote in the UK has reversed the short term trend and has pushed price back down towards the green zone.

  The S&P 500 index proxy (SPY) has sold off hard as a result of the “Brexit” vote. We still see one last phase of bullish energy, perhaps driven by central bank intervention before this market can top out for good. We are monitoring the situation and will update you as this cycle unfolds…

  Western Digital Corp. (NASDAQ:WDC) has been pounded by the Brexit selling and this has taken price back down into the Ivory zone. We will be watching to see how this stock reacts to this liquidity pool, and will take long exposure once this wave of selling confirms that it has exhausted itself.