IIFT Daily Note with Peter Brown

Good job Janet!

Posted by:  |  Time: 8:00 am  |  Topic:
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Amazing rally from Janet Yellen’s first FOMC testimony. S&P has now rallied 800 points from the low. Gone are worries of tapering, China and emerging markets and we are back to buying stocks. Can we rally further today? Market certainly seems in the mood, trouble is we are blowing through all the technical analysis points and there is very few signals to go on. yesterday I thought we would halt at 1809/11 which has been a big level in the past but we just blew through it. Tricky to trade these stock indices as the move are so big.

Mood this morning looks positive so go with the flow. Elsewhere FX is reall rang bound and little happening on Euro or JPY

Conditions today are Choppy Levels are:- Euro 1.3680  1.3615  S&P (MAR) 1821  1809 Wall St (DFB) 16150  15900

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