IIFT Daily Note with Peter Brown

Ukraine driving volatility.

Posted by:  |  Time: 7:52 am  |  Topic:
Trading Is At Your Own Risk - Read Our Terms & Conditions

We hit an 1823 low on the S&P followed by a 300+ point rally. Extreme volatility caused by the situation in Ukraine. Difficult to see how this ends. Russia certainly seem to have got Crimea but does their ambitions end there. We cannot prdict an outcome here or the next major turn. So expect volatility to continue. It is unlikely we have seen the last of the bad sentiment so expect further dramatic sell offs and rallies. We cannot rely on technicals here but have to trade news and sentiment. the good thing is that the swings are large so plenty of time to get on board. The money can be made selling on red buying on green. This is not a market for swing trading.

I favour the downside more as the outcome from Ukraine is still very unsettled.

Levels today are S&P (MAR) 1858  1840  Wall St (DFB) 16280  16140 DAX (DFB) 9260  9130  Euro 1.3960  1.3880  Gold 1390  1350

Remember go with the candles fading this on technicals is unlikely to work. Conditions Choppy

Comments are closed.