IIFT Daily Note with Peter Brown

Market a little confused.

Posted by:  |  Time: 7:46 am  |  Topic:  |  Comments: 2
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After Friday’s corrections both on the S&P and the USD and a softer equity market overnight, we are a bit directionless this morning. The market has had a great run and we may be in for a bit of side ways trading for a while. The next few days will be crutial to see if the bull run continues. Elsewhere the move on Gold is massive. Whether it is down to liquidations by Cyprus or a re-evaluation of the metal we don’t know. It should be supportive for the stock markets in the long run. Equities are fast becomming the only asset class offering a return.

On FX, Euro seems to be range bound and the Jpy has bounced a little. The overbought position has a lot to do with that.

This morning we need to wait for direction, the market is skittish and some of these moves are substantial.

Levels this morning are:- S&P 1582  1574  1567  Euro 1.3125  1.3100 1.3040  Usd Jpy 98.80  98.40  97.50

2 Comments

Pavinee

April 15, 2013

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Hi Peter, Would you mind explaining the level in the next class “Levels this morning are:- S&P 1582 1574 1567 Euro 1.3125 1.3100 1.3040 Usd Jpy 98.80 98.40 97.50″ how to interpret and to do on the charts?

Elva Burns

April 15, 2013

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Hi Pavinee.

I will do that on Thursday.

Thank you for the comment

Peter