IIFT Daily Note with Peter Brown

Equities producing a small bounce.

Posted by:  |  Time: 7:34 am  |  Topic:
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Equity markets have had a relief rally over the past few sessions, mainly due to inaction over Syria. The S&P is up 20 handles from Friday’s low. Dollar strong against the Euro and the JPY.

This will not last. The non farm payrolls are ahead on Friday and there are too many big stories in the wings. The market is setting up nicely for a sell. September is traditionally a weak market and given what lies ahead I think this one will pan out the same. We may post a little higher but the negativity will return.

So range trading for a while until the red candles return. The value should be to the downside when the market turns.

Levels today are 1652  1645    Euro 1.3200  1.3135

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