IIFT Daily Note with Peter Brown

Market just want to rally.

Posted by:  |  Time: 8:02 am  |  Topic:
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Another day of  bull markets against a background of poor figures. This market is ignoring fundamentals and the rallies keep coming. Even Ukraine which is a major issue is being discounted. It is dangerous to get in the way of a market like this as most will have experienced. hard to find chart points as the moves each day are substantial. We have mortgage figures out in the US today but they are probably irrelevant judging by the way this market reacts. The only way to trade this market is to go with it and not try to fade the moves. It is like a run away train. It is the chase for returns in a low interest rate environment that is driving it and there seems no bad news will upset the bulls.

Elsewhee FX is stable and easier to trade. Gold is rising on supply and demand issues mainly out of China.

Levels today are ; S&P (MAR) 1856  1833 Wall ST (DFB) 16300  16200 DAX (DFB) 9735  9665 Euro 1.3770  1.3700  AUD/USD .9085 To

Gold 1360 may be a short term top  Conditions again Choppy 

 

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