IIFT Daily Note with Peter Brown

Thin, order driven market.

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Well we saw the Christmas market at it’s worst yesterday. A sustained sell off first in both the euro and the s&p and than a severe rally and than another sell off. Expect this sort of crazy market to dominate trading sessions for the next few weeks.

Euro figures were bad and the Euro failed at 1.3150 highs. Support this morning comes in at 1.3040

S&P 1396  1414  serious volatility and finished practically unchanged.

Gold did it’s usual melt down after Golman lowered it’s 2013 forcast to 1800

This is a scalping market as the direction is totally unclear. Traders need to be swift and expect mood swings throughout the day.

Apple shares took a big hit after margins where increased.

Watch Apple this afternoon it is working like a ‘bell weather’.

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