IIFT Daily Note with Peter Brown

Here we go

Posted by:  |  Time: 8:53 am  |  Topic:
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Good sell off yesterday on the back of the Greek deal (or no deal). Broke to the downside on the S&P at 1350,  Broke to the downside on Gold at the 150 day moving average. Broke to the downside on the Euro.

S&P gap play failed. This will happen when the bad news dominates. This happens rarley but yesterday was a good example. People trading the gap should have had their stops at 1349.

Today we will get more of the same while doubts remain over Greece. They could default on the  back of  the failure to get this deal done.

Sell on rallies!

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