IIFT Daily Note with Peter Brown

Stocks look good

Posted by:  |  Time: 7:34 am  |  Topic:  |  Comments: 2
Trading Is At Your Own Risk - Read Our Terms & Conditions

In the absence of any significant news until NFP numbers Friday week, the market could be set for a decent run. Low interest rate argument and all that. Yesterday’s housing starts were poor adding further evidence that the US economy is growing but not sufficiently to start tapering QE.

S&P target is into the 1720/40 range. Dollar weaker so Euro to break 1.3200

The only thing to get in the way would be news from Europe and frankly anything there is being ignored by the market. August can be a dangerous month especiallly when I go on holidays. I have a history of being away for major market moves. The amount of time I have traded from a beach in Spain!

So this week I expect a rally.

Levels are S&P 1700 1686  Euro 1.3220  1.3160  1.3140  1.3080

2 Comments

myles

July 23, 2013

arrow

injoy the break peter, as you say yourself, the market is always there. your students will clean up while your away ha ha.

Peter Brown

July 23, 2013

arrow

Thanks Myles.

Just for good order I go away Monday. So you should be ok this week!

Peter