IIFT Daily Note with Peter Brown

Non Farm payrolls

Posted by:  |  Time: 7:38 am  |  Topic:
Trading Is At Your Own Risk - Read Our Terms & Conditions

Yesterday we finally got Dragi’s plan. It was enough to make the market stop. Not the massive plan we were promised but enough to calm the markets on the Euro Zone. It willtake a couple of trading sessions to get a direction on the Euro. In the meantime it is well supported at 1.2560 if we break above we may get to 1.2725. For today my advice is leave it, the action is on the S&P

Unfortunately concentrating on the Euro yesterday I missed the surge on the S&P, Draghi plus some good US figures caused a buying spree.

Today we have Non Farm payroll. The market wants to go higher so the bias is towards the upside.

We expect 125K as the number here are the possible scenarios.

125 or higher the S&P is heading for 1450/75 area, there may be a samll pull back but the market will rise.

100/125k  small correction but still a chance of higher

Market has to be below 100 before we sell.

Comments are closed.