The buyback will be completed this week, or early next week, so...

The buyback will be completed this week, or early next week, so what does the SP do in the absence of up to $1m per day support from SRX?

The simple 'logic' says the SP will lead South without said support.

However a significant amount of game theory needs to be considered.

Are buyers holding back waiting for the end of the buyback in the hope of buying cheaper? Has the buyback encouraged sellers into the market? Have the traders been having a field day with reasonable volume on many days?

Anyone who is thinking of buying and believes that the SP will drift lower post the buyback will be holding back, for sure. Does this mean that these buyers will start to push the SP up, only to be met by a secondary round of sellers?

Would be interested in sound logic replies. One liners without any attempt to reason why, are not helpful

As for me - I have no real conviction other than to think that there will be no great move down, albeit some increased volatility for a few days.