SPI200 Commentary
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SPI had another weak day and more weakness overnight, led by the banks which gapped down. Financials overseas were weak again so look for more weakness from the banks again today. Its XJO expiry tomorrow and its the last day of trading for these options so we may see some puts being squeezed today. Technically we are seeing more lower lows and lower highs on the SPI so the momentum is currently to the downside. I do think that eventually this pullback will be a buy opportunity in the long term but keep stops tight and manage risk. I think we see more lows today so mosltly I will be in sell rallies mode. For todays trading I am looking to buy dips around 5600 and sell rallies around 5660
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Last
8,757.2 |
Change
118.200(1.37%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,639.0 | 8,776.4 | 8,639.0 |
| XJO (ASX) Chart |