IIFT Daily Note with Peter Brown

Market starts with a profit take.

Posted by:  |  Time: 7:43 am  |  Topic:
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Market was more active than anticipated yesterday. A good profit take on stocks to start the year. Nothing too dramatic news wise so we can put it down to a correction to the late December rally. Euro also got a hit.

Overall we like the market, so these dips will probably be a buying opportunity. Very few players are back at their desk so we are seeing thin markets and exaggerated moves. Not much in the way of news this morning so the mood will be important. We could continue to sell but a bounce is more likely.

Trading conditions today are Choppy.

Levels are Euro 1.3690  1.3620   S&P (MAR) 1830  1820  Wall St (DFB) 16475  16400

Note. From Monday the blog will be released later at 8.30am  to give a better chance of reading the European market.

 

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