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46,685 Posts.

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29/07/16

13:47

Post #: 18399414
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Originally posted by pinozi ↑

SPI200 Commentary

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More of the same, SPI prints another new high and dips are shallow. More than likely today will be another quiet day with shallow dips and another new high. BOJ is coming out with their QE package today which is usually around 1 to 3pm so that will be the main driver today. From what I've seen in price action in the Nikkei and JPY it will have to be a very big bold number from the BOJ to make the nikkei soar and the JPY weaken which is what they desire. When reports came out earlier this week of a 27 TRILLION package the USDJPY jumped but this was quickly reversed and its now lower. There was also a 2 big figure drop this morning and no news about, so that is a preview of what to expect today. With stock expiry done we will see some squaring off in the morning which could move the SPI but I think we will see more of the same grind higher and low volatility. I'll be looking to buy around 5490 and sell around 5540 today

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Crazy spike up just then 20 points on SPI then straight back down again.
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0 Great analysis

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