IIFT Daily Note with Peter Brown

Rally continues apace.

Posted by:  |  Time: 7:29 am  |  Topic:
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Low interest rates and Central banks printing is keeping the buying spree in stocks intact. No sign of a correction in sight. We have never seen this dynamic in the markets before and it is hard to see where this will all end. One thing is sure, the market will not go negative without some very bad news to drive it. It will be hard to convince stock holders to sell their positions without a very good reason. As yet there is nothing in sight to cause a turn around, so buy on dips.

Elsewhere the Euro is range bound as is USD/JPY. Euro stocks are taking their direction from the US so DAX and IBEX are heading higher also.

Mood this morning should be set by the French figures due out in 15mins.

Levels are   Euro 1.3240  1.3140    S&P 1615  1607

Looking for a top in this market will cost money. Just buy the dips.

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