Next week trading will be about North Korea, Europe sovereign debts and US$. It's not going to be about technical much. It will be a volatile week with wild gyration in both direction and technically it might not mean much if full scale war breakout from US & South Korea miltary exercises. I can't see it happening but like the market it not about logic at all.
SPI closed at 4576 rather high compare to where SP future closed but it obvious SP future is factoring potential war over the weekend.
$A is due for a bounce but high risk with global issues and market prefer safehaven into US$. Personally, US$ safehaven might me the case in the past when it comes to war but these days with Feds printing money and slow US economic recovery, I consider current move as a potential to short US$.
Stay close to the current news and grab & run trading is still apply for me. Good luck.
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Last
8,591.2 |
Change
52.600(0.62%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,538.6 | 8,601.8 | 8,538.6 |
| XJO (ASX) Chart |