IIFT Daily Note with Peter Brown

A bumpy ride ahead.

Posted by:  |  Time: 7:30 am  |  Topic:
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Uncertainty over Syria and the Fed actions on September 17th-18th are going to keep this market guessing until then. Friday saw poor NPF numbers, an initial sell off was followed by a decent bounce. The market is directionless and this is set to continue. It is unlikely we will get a decisive move in either direction this week. So the tactic is to go with the move and look for reversals. We should still see 100+ point slides and bounces so there will be opportunities.

Today looks quiet on the economic front so we need to wait for the action before diving in.

Levels are S&P 1666  1648  1638 Euro 1.3210  1.3110  USD/JPY 100.00  99.00

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