IIFT Daily Note with Peter Brown

Still in limbo

Posted by:  |  Time: 7:33 am  |  Topic:  |  Comments: 3
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Another day passes and the same scenario plays out. Market sells off than bounces. This time we sold off again into the close. We reached a new low on the S&P 1663.

Today is setting up more or less the same. Get the mood first thing and job the moves. There are 50 points to be had a few times each day. Elsewhere the Euro has flat-lined not much action there.

Good support at 1663 on the Dec S&P resistance is at 1678  Wall st (DFB) support at 14880  resistance at 15000  Euro 1.3580  1.3540

Buy on dips as if there is good news you will not get caught. You can sell in the morning (safer) as the US market is closed.

Opening a bit low, first move could be higher.

3 Comments

john

October 8, 2013

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What is dfb please? I can only find cash and futues.

Peter Brown

October 8, 2013

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Hi John.

It is the contract on Ig platform.
All their contracts are DFB Daily funded bet

Peter

Gordon Anderson

October 9, 2013

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With little movement on Gold would that indicate that the market is not retreating to comfort of commodity. While nervous about S & P, not overly so and expecting a rally with anticipated inevitable resolution ?