Here's the chart (monthly), you can see that NZX50 is still well above the steep rising trend line, about 6200 which is also on the very long 20 month MA (approximates to a 400 day MA). A breakdown if it happened would still not bugger up the NZX bull trend, though it would certainly be hurtful for many blue chip shares. The bull breakdown (if it happened, and a BIG IF) is the trend line support around 4400 that converges on the 7 year bull market support at the peak of 2007 and the rising support trend line from the 2008 lows. If it got to there
and broke down, well, that would be a disaster ... but that's a long way from where we are now. Just play it by ear, NZX has
way more room to move before it's doom and gloom time, than almost every other international share market index.
I think the thing that these
long charts show if nothing else, bearing in mind it is MONTHLY, is that that sharemarket declines happen slowly, they take many months or even years to unfold (just like the rises). One day called Brexit is not a fatal blow, it's a blip. Just watch and be patient for the follow though,
if it happens.
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