IIFT Daily Note with Peter Brown

Solid but slow market

Posted by:  |  Time: 7:49 am  |  Topic:  |  Comments: 1
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We are back up to resistance on the S&P 1462. This market will be strong all year except for defined shocks. Keeping the S&P down will be akin to holding a beach ball underwater in a swimming pool. The minute you release the pressure it shoots up. Bad news is the pressure and we have little of it at the moment. I am very loath to short this market unless I can point to a specific reason why it should go down.

We are at resistance but I favour a break.

On the Euro there is a feeling we will see dollar strenght soon. The top side is therefore limited. Market is slow on FX so few chances  for big wins. Play the technicals.

One Comment

Jake Walsh

January 11, 2013

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Good to hear a sane voice on the radio this morning, Peter.

After 5 years of failure, our policy of economic abasement and appeasement continues apace

A bad case of cultural and economic nationalism.

Best wishes for 2013…