IIFT Daily Note with Peter Brown

Countdown to FOMC.

Posted by:  |  Time: 7:28 am  |  Topic:
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Spent yesterday jobbing the market and the same is the strategy for today. Tomorrow we will discuss strategy for 7pm FOMC meeting. Market is a little lower overnight and is looking tired on the upside. I would prefer to go into te FOMC at the highs as it would set up a serious risk reward trade. So lets’s hope for a rally day.

As I said I will job the market today for 20/30 points so tech levels are important.

Euro 1.3380  1.3320  S&P 1694  1688  Gold has good support at 1308 if we break that watch out.

Only German Economic sentiment on the calender today so should be fairly quiet.

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