IIFT Daily Note with Peter Brown

How far?

Posted by:  |  Time: 8:22 am  |  Topic:
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The equity markets are putting in an impressive rally. Our target of 1200 on the S&P was met yesterday. I am not sure this is the top.

1250 is the next and serious target. In the absence of bad news the S&P always rallies. Low interest rates make it attractive despite the gloomy economic outlook. Look for further gains today but bring your stop up with you. It has come 700 points since Friday and unexpected bad news will give it a serious hit. Gold confused at this stage I would leave it alone untill we hit further news.

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