IIFT Daily Note with Peter Brown

Market bounced but not sustained

Posted by:  |  Time: 8:10 am  |  Topic:
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Nice rally yesterday but did not last. Market is lacking confidence and moves are still volatile.Big move yesterday was the slide in Eur/USD focus this morning on CPI and unemployment. Stocks despite putting in a strong rally look weak. We need a rally to hold to bring confidence back to the market and as yet that is not there. So expect volatile days without any clear direction. Ranges are wide but opportunities are good. Wait for the entry levels.

Conditions today are Choppy. Watch for the Euro CPI aany sign of deflation should knock the Euro further.

Levels today are; Euro 1.3590  1.3500  S&P (MAR) 1794  1767  Wall St (DFB) 15900  15700

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