IIFT Daily Note with Peter Brown

Range bound for the short term

Posted by:  |  Time: 8:03 am  |  Topic:
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The stock market rally fizzled out again yesterday, confirming that we are in a range phase. Not enough big news around to drive us in either direction. Pmi’s in Europe today and as I write the French figure is better than expected. Euro taking a bounce towards the 1.3600 area. Expect a Choppy day and sell the rallies in stocks. The more the market fails on these rallies the more likely we test 1810 again.

Levels today are: Euro 1.3600  1.3525  S&p (MAR) 1844  1828   Wall St (DFB) 16420 16250

Levels are wide but market volatile.

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