IIFT Daily Note with Peter Brown

Starting the week at the upper end of the range

Posted by:  |  Time: 7:05 am  |  Topic:
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We start today at the top of recent ranges. 1402 on the S&P and 1.3255 on the Euro. Market looks fairly steady first thing. Will it have the momentum to break higher on these levels or will Euro gloom set us backward.

Again it is the Ibex for direction today and the yields on Spanish bonds. Both these markets will have to be subdued to let the prices on the S&P and Euro break higher. My guess is they will find some reason to sell this morning.

Wait for the direction before pulling the trigger.

 

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