IIFT Daily Note with Peter Brown

Take this market one day at a time.

Posted by:  |  Time: 7:38 am  |  Topic:  |  Comments: 1
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There is so much going on that the market is capable of moving in either direction. The latest is the Russian plan to deal with the Syrian crisis. This avoids military strikes and has taken the flight to safety out of prices. Stocks are higher, dollar lower and gold and oil lower.

We started yesterday very quietly but still had an active US session. This market is tricky because it is driver by news and not any macro views. So the best tactic is to be prepared to go with the flow.

Today stocks are likely to remian bid in the abscemce of new news. Euro could benefit also.

Levels are:- Not much up here on the S&P by way of resistance  1678 best I can find. Support at 1666 and 1660  Euro now 1.3300 1.3200

One Comment

lawrence

September 10, 2013

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Peter you were dead right about the market going either way. Thanks for the nice tip. Corral trading day.!