IIFT Daily Note with Peter Brown

Still negative?

Posted by:  |  Time: 7:00 am  |  Topic:
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Well yesterday saw some new lows on the S&P Euro and Gold. We had a slight rally in the end but Greece and Spain are really dominating.

Same situation today, we have to wait for the mood on the Spanish market to get a direction.

Strategically I think the Euro is headed for 1.2600. It will happen slowly with bounces on the way. S&P is different, support is at 1340/44 it important this level holds. We have had a lot of negative days so be a bit careful today, it could be a correction day.

Again the mood will come from Spain.

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