IIFT Daily Note with Peter Brown

We got a deal

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Thats about it for the good news. Can it work? highly unlikely. Thats the longer view.

For today we are at 1.3285  and 1366 on the S&P. A pretty muted reaction. I favour the downside this morning, ‘buy the rumour sell the news’.  So the levels to watch are 1.3300/20  and 1370. Cannot see the market making it to far through there.

As the details of the Greek aid package come out it will be clear it is unworkable and a huge step for the Greek people.

So we could see the start of the long awaited correction on the equity rally since December.

 

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