IIFT Daily Note with Peter Brown

Yellen rallies the market.

Posted by:  |  Time: 7:44 am  |  Topic:  |  Comments: 2
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First indication of Janet Yellen is dovish. Her released comments late last night soared the market. Central bankers rule the world!

This is going to be a difficult day, are we going higher from here or are we overdone? My guess is that the US markets are too high but after getting the markets to settle down we now have 200+ point days again. Maybe a sell in small and wait a few days.

Dollar also go hit with the Euro hitting 1.3500 last night. Hard to think the market can sustain these levels. Also this morning German GDP was poor.

This is going to be a roller coaster day and trading levels will be wide so be careful.

Euro 1.3500  1.3390  S&P (DEC) There are no levels I can put on this as we have not being here before, I can only suggest round numbers 1790  1770

Wall St (DFB) the same only a little tighter 15900 15800

Mood on Europe will be key. Do not rush in here, wait and see if this market has leggs or set to correct.

2 Comments

Ross

November 14, 2013

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I wonder if yellen will be as accommodating as Benjamin?

Terry Pierce

November 19, 2013

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She will be a lot more accommodating than Mr Bernanke not really sure if that’s going to be a good thing for the US economy going forward but we shall see.