SPI200 Commentary
Follow or Fade!
SPI continued its rally as it started strong in the morning and closed near the highs at the end of the day. Sycom saw the SPI consolidate the gains and finished near the highs. It looks as though the XJO is ready to break the sideways range that it has been trading for the last 5 months and to the surprise of the bears it looks like its a break higher. BHP and RIO were strong overseas thanks to China buying resources so that could be the catalyst that sees the XJO get past the 5825 level. 3 banks are paying dividends in November and they are already starting their seasonal rally so that will also help. How high this rally goes is the question now but it seems that you want to be buying dips today. For todays trading I am looking to buy dips around 5800 and sell rallies around 5840
Steve Jobs Monday, page-2
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Last
7,733.7 |
Change
-62.300(0.80%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,796.0 | 7,796.1 | 7,730.5 |
| XJO (ASX) Chart |