SPI200 Commentary
Follow or Fade!
SPI pulled back Tuesday as an intermediate top may be in place. As usual its not straight forward on the ASX as it was the banks that were the stronger sector while the rest of the market was weak. Should SPI be able to make some now lower lows today, then the recent uptrend which was consolidating the last few days may be turning. If that is the case then look for silly rallies to sell into. WBC is the last bank to go ex and it does so tomorrow. The other banks have held divvies but if they start resuming their own well established downtrends then expect the XJO to head lower. For todays trading I am looking to buy dips around 6070 and sell rallies around 6110
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Last
8,585.5 |
Change
5.400(0.06%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,580.1 | 8,593.6 | 8,558.3 |
| XJO (ASX) Chart |