SPI200 Commentary
Follow or Fade!
SPI had a breakout move yesterday as the XJO managed to break past the 5550 level and trade as high as 5574. With overseas markets also green overnight we should see the SPI head higher, so I am in buy the dips mode for today. Its stock options expiry tomorrow and if the SPI does as expected and head higher look at the open interest in some OTM calls on stocks for some trade opportunities and pinning. 5570 is high print on this current SPI contract so that will be the first obvious target for this run higher. Also for this run to stay healthy I wouldn't want the XJO to trade and close under the 5550 level as that would mean we are back in the range. For todays trading I will be looking to buy dips around 5520 and sell rallies around 5570
SPI200 Commentary Follow or Fade! SPI had a breakout move...
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Last
7,777.7 |
Change
95.700(1.25%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,682.0 | 7,795.1 | 7,682.0 |
| XJO (ASX) Chart |