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richard01

3,424 Posts.

25

25/06/18

10:21

Post #: 33921588
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Originally posted by pinozi ↑

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

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If i was a fund manager, I would be selling this rally.
Nobody ever went broke locking in profits and this is a ten year high.
I think we could see some volatility this week especially thurs day option expiry day

stay tuned
Still short

XJO Value at posting: 6,230.4
5 Upvote

0 Great analysis

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