SPI200 Commentary
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SPI consolidating near the highs yesterday as it had a run to new highs in the morning which probably has more to do with Feb index options expiry than real buying. As soon as the OPIC was printed SPI was sold off down to yesterdays lows but the gap remains. SPI then recovered into the day close and gyrated around this level overnight. We should see more consolidation around these levels today as that was the case in overseas markets. There is usually a bit of volume in the morning due to exercises and assignments squaring positions then I think we'll have a quiet afternoon. We are in the middle of earnings and that may provide a catalyst for the next move but this season has been mixed so far, with some sectors doing well and others not so, making it a stock pickers market. For todays trading I will be looking to buy dips around 5740 and sell rallies around 5780
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Last
8,562.6 |
Change
-67.700(0.78%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,630.3 | 8,630.3 | 8,544.7 |
| XJO (ASX) Chart |