SPI200 Commentary
Follow or Fade!
SPI continued its range bound ways Friday as it gapped lower on the open but found support. It then rallied around lunch and weakened into the close. Sycom saw SPI rally to new highs as good jobs numbers helped pushed equity markets around the world higher. It is definitely feeling like ground hog day at the moment as the SPI remains in the long sideways pattern. There is a bit of resistance around the 5710 and 5725 levels to the top side so should the SPI get to those levels this morning I'll be getting short. CBA was in the news for their breaches late last week and they have earnings released Wednesday, so keep an eye on its price action for a take on the overall market. USD had a bit of a bounce on Friday, so that may weigh on commodities. Overall the SPI still remains rangebound though so just keep hold times short and play the ranges. For todays trading I am looking to buy dips around 5660 and sell rallies around 5710
SPI200 Commentary Follow or Fade! SPI continued its range bound...
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Last
7,999.3 |
Change
-18.300(0.23%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,017.6 | 8,018.0 | 7,996.9 |
| XJO (ASX) Chart |