IIFT Daily Note with Peter Brown

The Gap

Posted by:  |  Time: 7:06 am  |  Topic:
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First upward gap for a long time yesterday, and it didn’t dissapoint. S&P certainly is a bargain anywhere around 1350 level. Qusetion is ,is it a sell around 1370. Well we are about to find out. Strong start to this morning. Top should be around 1375 area.

Euro up strongly against the JPY. We have had the correction here and should clim back towards 110. Same for USD JPY.

Euro Usd looks supported this morning, maybe a small pullback first but don’t rule out a test of 1.3500

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