SPI200 Commentary
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SPI drifted towards the recent highs as expected yesterday and was bid despite weaker Euro and US markets. Its the day before non farm payrolls so we should see traders going into risk off mode today, so my initial thoughts are that any stop runs that suck in the breakout traders above this weeks highs should be faded as I think its more probable that the SPI will remain within the ranges defined for the week. Non farms will be interesting tonight as a very good number will make the markets think rate rise and could see the SNP fall, so in other words good news could be bad news. For todays trading I will be looking to sell rallies around 5495 and buy dips around 5455
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Last
8,575.4 |
Change
34.300(0.40%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,541.1 | 8,585.6 | 8,536.7 |
| XJO (ASX) Chart |