IIFT Daily Note with Peter Brown

Getting fed up saying the market is higher!

Posted by:  |  Time: 8:00 am  |  Topic:
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But it is. Up and onwards we go. No end in sight to this historical rally. Buy anything, it would seem is the strategy. I am not going to become a bear and start to predict the top of this. The rally is based on the desperate need for yield. This market would buy a burnt out caravan if they thought they could yield 3% on it!

From a technical point of view it is hard to call levels as we are at new highs everyday.

The market is simply a buy on dips.

S&P support at 1622  1617   Euro at new highs after a break out yesterday  1.3125 support 1.3250 resistance

Elsewhere we are range bound on USD/JPY and Gold. DAX and IBEX will likely just follow S&P.

Don’t be a seller.

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