IIFT Daily Note with Peter Brown

Choppy conditions to continue.

Posted by:  |  Time: 7:23 am  |  Topic:
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A nice rally yesterday and we have more economic releases today to keep the volatility going. Bias is to the upside on stocks as we are still below year highs. The famed Santa Clause rally can still happen so beware of this last few days of trading. German economic sentiment and CPI’S this morning but of course the main event is the FOMC tomorrow. That is a massive event and the market will go crazy. Not a trading opportunity until the direction is clear afterwards. Regardless of tapering or not, I still think the market will rally into the Christmas break.

I am not around for a blog tomorrow so be careful.

 

Levels today are Euro 1.3800  1.3750  S&P (DEC) 1790  1770 Wall St (DFB) 15935  15825  (wide levels sorry )

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