SPI200 Commentary
Follow or Fade!
SPI was stronger Friday as buyers slowly came in from the sidelines. Sycom was strong also and SPI closed at the highs. SNP gapped higher this morning so we should see SPI gap higher also.
So the main question this morning will be whether its a gap and go or gap and fade. With the way it seems there is a little bit more calm in the world and it seems we have seen an intermediate low on XJO at 6400, I am leaning towards a gap and go, from there we should see a bounce to 6500 as the first target. As usual it wont be smooth sailing so look for set ups where weak longs are being shaken out.
Range for day: 6410 to 6460
Direction : Uptrend restarting
Setups : Buy dips around 6410
SPI200 CommentaryFollow or Fade!SPI was stronger Friday as...
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Last
7,675.9 |
Change
46.900(0.61%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,629.0 | 7,684.1 | 7,629.0 |
| XJO (ASX) Chart |