IIFT Daily Note with Peter Brown

Apple follows the trend

Posted by:  |  Time: 8:03 am  |  Topic:
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Disappointing figures from Apple continued the slide late last night. The no growth story has now replaced any upside from QE or Draghi’s bond programme. S&P set for lower over the next few weeks. Today we are testing the 1400 level, next targets are 1380  and 1365. The Euro is holding up well at 1.2920 support but I feel we will test 1.2835 major support soon. Gold is at 1700 and looking offered.

This market is a sell on any bounce. 1408 on the S&P 1.2960 on the Euro. We have a bear market for the medium term.

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