IIFT Daily Note with Peter Brown

Market solid after payroll data.

Posted by:  |  Time: 7:55 am  |  Topic:  |  Comments: 2
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As expected for the NFP on Friday. No big surprises unfortunatley, the trend is for moderate job growth. Market reached 1462 again which is now serious resistance. 1452 is the support. Market looks good and would expect a further test of the high today. The market has about a month to put in a decent run before the fiscal cliff comes back to dominate. 1500 is my short term target.

Europe is totally sidelined, no news on the horizon as yet. Euro is suffering from JPY and USD profit taking. The Euro itself is pretty solid and support between 1.2980 and  1.3000 should hold. Topside is at 1.3085.

Market off to a steady start in 2013, buy on dips

2 Comments

Rikki

January 7, 2013

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Hi Peter,

Is it the s&p 500 daily future (March) you are trading and not the cash(DFB)?

Thanks,

Rikki

    Elva Burns

    January 7, 2013

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    Hi Rikki.

    Always the future

    Peter