The Brexit vote was a solid win for “Leave,” even though the margin wasn’t huge. The resulting market correction was not really so bad for U.S. markets; although, for global markets it was another story. Below we can see the sucker rally early in the week (circled), fed by wishful thinking and sketchy polls. A lot of fear was built up, with emphasis on the horrible consequences of a Leave vote. This was meant to steer people to the Stay side, but in the end it probably exacerbated the selloff.