SPI200 Commentary
Follow or Fade!
SPI had a very weak finish to the week as it sold off early from the open, broke some support levels and made new lows for the week then consolidated at the lower levels. Banks faked me out on options expiry last week as their strong performance Thursday was sold into on Friday. Since they are such a large weighting on the XJO they will usually determine SPI performance, hence why the SPI was so weak. Also contributing to the poor performance was the materials sector, which had been doing well but was poor also on Friday. Not much lead from overseas markets for today as the US and the UK are closed tonight so I'm expecting the SPI to remain range bound at these lower levels. For todays trading I am looking to buy dips around 5740 and sell rallies around 5780
put a pillow on your fridge Monday, page-2
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Last
8,092.3 |
Change
139.100(1.75%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,953.2 | 8,092.3 | 7,952.8 |
| XJO (ASX) Chart |