IIFT Daily Note with Peter Brown & David McWilliams

Stocks drift higher

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As we said summer markets. Euro is totally sidelined and now stuck in a 1.2225/1.2325 range. The S&P however is doing it’s usual trick of bouncing on even the slightest positive news. We have entered the 1370/1375 area. A break here leads to 1400 and maybe 1420 the high so far this year. One piece of bad news will send it spinning back down. I favour a correction towards 1360 first and than an attempt higher maybe tomorrow. If 1375 breaks though it will probably behave like yesterday.

One Comment


July 19, 2012


Interesting level, you do good research