IIFT Daily Note with Peter Brown

Good news is finally good news

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Friday’s NFD data was impressive. Regardless of whether it will be adjusted next month the market now sees the US firmly on the raod to recovery. Equities rallied strongly after an initial dip. Dollar was stronger. Now the speculation begins with regard a December taper. Frankly I doubt the start of tapering will dampen this market for long. So the sooner we start the better. This equity market is very well supported on any dips.

Trading may be in ranges this week as the big stories have passed. Given the volatility last week these ranges may be wide to begin with.

Here goes  Levels are  Euro 1.3440  1.3320  S&P (DEC) 1771  1760  Wall St (DFB) 15760  15660

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