IIFT Daily Note with Peter Brown

Off the lows

Posted by:  |  Time: 8:35 am  |  Topic:
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Been away from the markets for a few days. Nothing much has happened. Spain announced it’s stress tests for the banks, no surprise there. Market made new lows on the Euro and the S&P but has bounced from there.

Good chance we range for a while, I need a few hours to get a feel for this market and will update on the club website.

In the meantime 1.2810 looks like support on the Euro and remember the 200 day SMA on the Daily chart. a close below 1.2825 level will be serious.

S&P is supported at 1428 resistance at 1444

Gold toped out at 1780  area support comes in at 1756

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