IIFT Daily Note with Peter Brown

Mood is bearish

Posted by:  |  Time: 7:36 am  |  Topic:
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It is going to be hard for the market to shake off Friday’s Payroll data. Look for levels to sell if you are not still short.

Euro hit a 1.2250 low.  1.2310 should contain the top side, our downside target is 1.1880 the June 2010 low.

On the S&P I think we have more downside to do 1352 to 1342 is the day range. Again sell on rallies.

Euro ministers meet today, unlikely they can come up with something that will impress the markets.

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