IIFT Daily Note with Peter Brown

Euro worries

Posted by:  |  Time: 8:11 am  |  Topic:
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All bearish on the Euro market this morning. No Greek government and Spain in continual trouble.

Market has priced in a lot of the bad news with the Euro now below 1.2900 and the S&P at it’s recent lows 1340

Where to from here? Well the Euro is still a sell to 1.2600 but it will not be in a straight line as we have discussed. Sell, Square and wait for the bounce. We might have a bounce first thing this morning.

On the S&P it is now down 800 points from the year’s high. The bounces here will be more vicious, so be carefull.

Gold making it’s way towards a buy area in the 1500 to 1525 area so be patient.

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