Tuesday 11th December - Green on the screen, page-2

SPI200 Commentary

Follow or Fade!

SPI fell through the 5600 level Monday which has held for about 2 years. SPI made more new lows during US hours then recovered into the close. It looks as though the SPI is consolidating under the 5600 level so chances are its going lower. Banks keep dragging the market lower but commodities are finding some support which is why the SPI is still choppy. There should be some test of the 5600 level from the downside today and that is a rally that should be sold in to. As usual keep an eye on the banks as rallies will be sharp in this market environment. For todays trading I am looking to buy dips around 5540 and sell rallies around 5600