Let it go......Friday, page-14

SPI200 Commentary

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SPI had a decent day Thursday as it based early then ran up to 5669 to close the gap from 2 days ago. SPI then retreated into the close and was range bound during the night session but closed closer to the highs of the day. Most markets overseas were mixed overnight and not much in terms of a decisive move so expect the range bound conditions to remain on the SPI today. There was news of SA imposing more tax on the banks so that could be a catalyst for them to remain weak. Overall though it seems that heavy sell off from earlier this week has found support and those lows should hold. The bounce from the lows yesterday could also be the start of a bit of a ramp up into EOFY next week. For todays trading I am looking to buy dips around 5640 and sell rallies around 5680