IIFT Daily Note with Peter Brown

US rallies Asia fails to follow.

Posted by:  |  Time: 7:34 am  |  Topic:
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Really good rally in the S&P yesterday. 1598 proved good support and the market gained throughout the day. Asia initially rallied but sold off heavily later on.

The undecisive Risk On Risk Off market is set to continue. Where to today is anybody’s guess. Because the Asian market is subdued it is unlikely the S&P will be able to follow though on yesterday’s action. It could be quiet also as traders take a rest and head to the pub early.

Best advice is to go with the mood if one develops. If the market is quiet go to the pub.


Levels are  S&P 1648  1640  1622  1598    Euro  1.3400  1.3280

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