IIFT Daily Note with Peter Brown

Market looks strong. How high can we go?

Posted by:  |  Time: 8:00 am  |  Topic:
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We have had a good rally since Crimea. S&P close to all time highs. No news is always good for stocks and this is what we are experiencing. We have the NFP on Friday but this market looks like it will head higher from here. We may be a bit overbought so a small pullback is on the cards but the bias is definitely to the upside. Today we have GDP in Europe, not much of a surprise expected. Tomorrow is Draghi day. So the market should be fairly calm today with excitement building tomorrow and Friday.

Conditions Calm, Levels are S&P (JUN) 1887 1873 Wall St (DFB) 16600  16500 Dax (DFB) 9645  9545 Euro 1.3770  1.3830 Gold 1280 1300

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