IIFT Daily Note with Peter Brown

Break out day?

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S&P looks set to break out on the upside today. 1280 and heading higher. In the abscense of bad news from Europe we will test higher. 1300 is the obvious near term target.

Will this lead to a higher Euro? Not by much is my guess. Just hearing a Swiss bank calling for 1.2275 strategically. Not a very brave call.

Auctions in Italy and Spain later this week, not going to be long into those.

Today we may rally.

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