SPI200 Commentary
Follow or Fade!
SPI was volatile Friday as it ran up hard to new highs then sold off harder due to Iron Ore prices droping. Sycom saw it fall on weak Europe and Good non farms then recovered to be about mid rangeIn this long rally SPI has shown times where it rallies sharply about 100 points then consolidates for about a week or so. We have seen the 100 point move late last week so if the pattern were to continue then expect SPI to consolidate this week. Miners will lead the way lower but yield stocks and defensives should add support. So if the internals are mixed then keep playing ranges
Range for day: 6640 to 6680
Direction : Consoldation
Setups : Sell rallies around 6680
Monday July 8th - Is that the high in SPI?
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Last
7,822.3 |
Change
-9.500(0.12%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,831.8 | 7,831.8 | 7,807.7 |
| XJO (ASX) Chart |