IIFT Daily Note with Peter Brown

Looking for a quiet start

Posted by:  |  Time: 7:43 am  |  Topic:
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Going to be quiet early on in Europe, and then we will see how the US market reacts to ‘Sandy’ after being closed for two days. You can argue both sides here, bad market reaction, obvious, good market reaction, more jobs in the clean up!

We had a positive day yesterday, Euro up at the highs of 1.2980 and the S&P rallying to 1412.

Today is all about the US reaction. Hard to see much on the upside, definitely 1420 is the top. Fancy the downside myself.

So ranges are 1.2980   1.2880  S&P 1420  1394 wide and 1417  1407 narrow.

Wait for the market, for the move. Biggest opportunity is certainly on the downside if the market goes that way.

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