The possibility of a stimulus programme from the ECB set the DAX on a surge yesterday morning. That rally followed through into the US session when earnings were better than expected. All in all the market put in an impressive rally on both sides of the Atlantic. Ukraine and the worsening situation there, was totally ignored by the markets. So much for our correction, we are now looking within touching distance of new all time highs.
The overriding factor remains , that while interest rates stay at zero nobody wants to sell their holding of stocks.
Today we have a lot of economic releases, PMI’s especially. Market still looking to punch higher so a buy on any dip this morning.
Levels are :- S&P (JUN) 1877 1872 Wall St (DFB) 16570 16500 DAX (DFB) 9640 9560 Euro 1.3850 1.3780 Gold 1892 1877