IIFT Daily Note with Peter Brown

Another new high.

Posted by:  |  Time: 7:31 am  |  Topic:
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Same again in the markets yesterday. Most products trading sideways and the US making a new high. Market is trading slower but the fundamentals remain the same. Today we have had German CPI, as expected and no surprise there. We are facing a day of range trading and probably a buy on any dip in the S&P.

It is important to understand when the markets are not offering major profit opportunities and now is such a time. Outside taking 20/30 points jobbing the only other opportunity is buying the dips on the S&P. Same again today.

Levels are Euro 1.3040 1.2940 major support. S&P 1620 support 1635 on the topside but not major.

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