IIFT Daily Note with Peter Brown

Market consolidates at the highs.

Posted by:  |  Time: 7:45 am  |  Topic:  |  Comments: 1
Trading Is At Your Own Risk - Read Our Terms & Conditions

So far, after a serious rally the market seems very comfortable up here. No sign of bad news on the horizon so stocks are consolidating gains. Pretty quiet day for economic releases so little in the way of news to come. Should be a small range day.

Until something emerges on the negative side this market will continue to put in new highs. We are getting very overbought and are due a correction. No sign of it yet and no need to play that move until it materialises.

In the meantime levels are  Euro 1.3580  1.3500  S&P (DEC) 1810  1800  DOW (DFB) 16125  16050

One Comment

Terry Pierce

November 26, 2013

arrow

It looks like Mr Bernanke has given Santa the green light to take off for his Santa Rally until year end.