IIFT Daily Note with Peter Brown

China and Japan leading markets lower.

Posted by:  |  Time: 7:41 am  |  Topic:  |  Comments: 2
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It’s suddenly all about Asia and the slowdown in those economies. Commodities taking a bath , iron ore and copper. A bad sign for growth globally. US market sold off heavily yesterday and it seems we have put in a medium term top. Will this correction take hold and lead to a serious adjustment lower? Well this morning we are probably opening a bit too low and may bounce a bit. I am a seller on rallies on these markets and will look for a bounce to enter. Elsewhere gold is off to the races breaking 1350. That is now the support level and expect a move to 1380 soon.

Today will be Choppy even without any significant news. Market is in bearish mood s0 bounces need to be faded.

Levels are : S&P (MAR) 1882 big top  1870  1863/60 support ( if this levels goes this morning it will be hard to recover any upside)

Wall St (DFB) 16370  16300  DAX (DFB) 9300  9200 Gold 1350 support  Euro 1.3900  1.3825



March 12, 2014


Hi Peter
Any idea where we may find support on the dax


Peter Brown

March 12, 2014


Hi David,

Around here 9200 9180 Market is very bearish China Crimea etc.
Support in S&p and wall St also here. Hoping the Americans will bounce the market so I can get short. No interest in long positions. Too low at these levels to sell. Should get a small 40/50 bounce .