IIFT Daily Note with Peter Brown

Risk On Risk Off. Day after day

Posted by:  |  Time: 7:12 am  |  Topic:
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This market is crazy. We are swinging from bull to bear one day at a time. Yesterday saw a healthy rally S&P reaching 1377 and the Euro 1.3205,  Both levels towards the top of recent ranges. Spain and Italy stock markets had a substantial rally.

Can we follow through today. Well as I write we are heading a little lower. Euro at a pivot at 1.3180 and the S&P at 1374.

The simple answer will come from the Spanish stock market, the IBEX. If it starts to sell from yesterday’s highs we will have a bear day.

Our job is simple at the moment. Identify either Risk On or Risk Off and go with that.

We are down in Cork today for our Trading Boot Camp so looking forward to seeing all the traders from here.

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