Beatles Monday, page-2

SPI200 Commentary

Follow or Fade!

SPI continues to rise as it made a new higher high during the Sycom session. It seems that it has taken a lot of capital and effort for this recent EOFY window dressing rally so there is low chance that they will allow it to fall sharply before the end of this week. So while there are many reasons to be bearish the SPI, it probably wont fall this week. So look to keep playing ranges and use the banks as a barometer, for if SPI decides to fall then the banks will lead the way. So since SPI has made a higher high, expect some higher prints on the XJO itself and maybe another surprisingly high print on the expiry of weekly XJO options later this week. For todays trading I am looking to buy dips around 6160 and sell rallies around 6210