SPI200 Commentary
Follow or Fade!
SPI rally continues as it had a decent move during the day then powered on overnight as overseas markets continued their breakout. The high print for the year on the SPI was 5569 so we should see that number broken this morning. The high for the year on the cash XJO is 5611 which I doubt will be broken today but if it is, it will create a very nice candle on weekly charts. Financials were strong again in the states so look for the banks to keep doing the heavy lifting. We may get a bit of consolidation today as its Friday, so traders may take profits on this run but don't look for tops just yet, its way too dangerous to try and short this strong market. So keep looking for dips to buy. For todays trading I will be looking to buy dips around 5530 and sell rallies around 5580
SPI200 Commentary Follow or Fade! SPI rally continues as it had...
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Last
8,150.0 |
Change
-55.200(0.67%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,205.2 | 8,205.2 | 8,107.6 |
| XJO (ASX) Chart |