IIFT Daily Note with Peter Brown

Slightly lower across the board.

Posted by:  |  Time: 8:07 am  |  Topic:
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Market is going nowhere fast I feel. We have made a new high for stocks but it is unlikely we will get much follow through. basically the market has little in the way of stories to focus on. that is unusual especially after the last six years. So we can expect a range trading for the near future. that range can be large and at the moment it is 1846  1810 on the S&P.

Trading will be mood based day to day but any news should just bring us to the edge of the ranges where the big money is in fading that move.

This morning we have had China GDP. A little worse than expected but nothing major. Euro a little lower on expectations that ECB will do some stimulus.

Trade the mood this morning and expect small moves. Conditions should be calm

Levels are S&P (MAR) 1836  1826  Wall St (DFB) 16480  16380  Euro 1.3580  1.3500

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