SPI200 Commentary
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Didn't have enough time to write up something this morning due to family commitments - Here is an update
The grind higher continues on the SPI. Rally is being led by the large caps too which will be pleasing for the general investing public. While this rally is healthy I still maintain that it is a bear market rally so don't be lazy and expect that the good times will last forever. The XJO should start to see resistance around the 5175 level so I will be looking for short trades around there. XJO keeps accepting higher prices though so easiest trades are still to buy dips. Even if the XJO does top out around current levels there will need to be a new catalyst or scare to get the sellers back so I think we should see a lot of choppy markets for the next few weeks. For the rest of the day I will be looking to buy dips on the SPI around 5120
SPI200 Commentary Follow or Fade Didn't have enough time to...
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Last
7,829.7 |
Change
66.500(0.86%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,763.2 | 7,832.3 | 7,763.2 |
| XJO (ASX) Chart |