IIFT Daily Note with Peter Brown

Record highs didn’t last long!

Posted by:  |  Time: 7:40 am  |  Topic:  |  Comments: 1
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Stock markets reached record highs yesterday afternoon. S&P hitting 1688  Dow  15587  Market looked set for a fair run, however after hours reporting especially from Microsoft upset the market and we sold off heavily. (thanks to Ed for a great call on that one)

Mood this morning has changed. Europe opening slightly down. We have had a good run for stocks and been Friday we amy have a down day. No big news out now for 10 days so the market can focus on technical levels. May be a time to think about Europe and how bad things are. Portugal etc.

Levels today are S&P 1688  1672  1666  Euro  1.3180  1.3080  working great.

One Comment

Ross

July 19, 2013

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The sugar high has finally subsided. When are we going cold turkey?