IIFT Daily Note with Peter Brown

Market starting to settle?

Posted by:  |  Time: 7:49 am  |  Topic:
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Only a hundred point range on Wall St yesterday. Are we starting to see some stability to these markets. Crimea off the front pages for now and if the Russian ambition is Crimea only this story will soon disappear. We will be back to the US economic outlook which seems pretty flat. Therefore we may stay in this range for some time and the key is to establish the top and bottom levels. Certainly Euro is now in a very tight range. Hopefully over the next week we can establish the levels and provided another big story does not break we may stay around here till the summer. Economically there is definitely no macro view in these markets.

Today conditions should be Calm/Choppy

Levels are S&P (JUN) 1865  1855 Wall St (DFB) 16450  16350 Dax (DFB) 9440  9325 Euro 1.3750  1.3850  Gold 1308  1325

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