Thursday June 27 - 91 seconds, page-16

SPI200 Commentary

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SPI was strong during the day and Europe but fell back to where it started. So good intraday opportunities but overall direction is still lacking. Lots of stocks go ex div today and its stock option expiry, so looking at how the internals of the market move today should give you a clue on the SPI. SNP is definitely weaker than the SPI at the moment so the EOFY rally could be more of a non sell off for the SPI rather than another move higher. So still playing ranges today but more cautious about dip buying as it looks like the bottom end is going to be tested today

Range for day: 6540 to 6580
Direction : Consolidation
Setups : Sell rallies around 6580