IIFT Daily Note with Peter Brown

Quiet and range bound

Posted by:  |  Time: 7:41 am  |  Topic:
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A range bound market yesterday and we can expect the same today.

Euro 1.2605 on the top and 1.2535 shouls hold on the downside.

S&P 1412  and 1404 should be the range

Gold 1675  1655

The only possibility today is a slow drift higher on the S&P into Friday’s Jackson Hole speech. Normally the market rallies into Ben Bernanke speaking. The fact that Draghi is not going will make his 6th September conference more critical.

Personally I think Jackson Hole will dissapoint but the correct trade is to be square into the speech.

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