IIFT Daily Note with Peter Brown

New Highs

Posted by:  |  Time: 7:09 am  |  Topic:
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Well news of a possible agreement from Greece let the market push to the top side. 1.3300 on theEuro and close to 1350 on the S&P.

This is a difficult time for trading and you have to be careful. This market is overbought and needs to correct. The same situation when the Euro was oversold at 1.2600.  At the moment everything looks really bullish but up hear I will be trading with tight stops.

Any negative news could cause quick and deep sell offs. We are close to last year’s high on the S&P so I think the market will find that irrestible, so up initially but cautiously.

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