IIFT Daily Note with Peter Brown

Yellen is a dove.

Posted by:  |  Time: 7:38 am  |  Topic:
Trading Is At Your Own Risk - Read Our Terms & Conditions

Well after our first look at Janet Yellan we can certainly say she is a dove. She will do anything to help support the US economic recovery. She certainly comes across as very cautious. Not a women to gamble with tapering the market early. Stocks loved it. We will hear plenty about Janet through 2014 but early impressions are she is firmly in the Bernanke mold and may even be more dovish.

Stock market gained new highs and are now close to some major levels. 1800 on the S&P 16000 on Dow. Can we hit these levels before year end? Possibility.

Elsewhere there are no stories so Euro is sidelined. JPY is the currency getting weaker USD/JPY now through 100. 103 could be on the cards here but be careful of corrections.

Today stocks are a buy on dips. Levels are Euro 1.3480  1.3420  S&P (DEC) 1792  1784  Wall St (DFB) 15900  15840

Comments are closed.