Wednesday 7th November - Day after Cup day, page-2

SPI200 Commentary

Follow or Fade!

SPI was strong Tuesday as traders used quiet conditions to buy the market. RBA kept rates on hold as expected and SPI closed at the highs of the day. Overnight saw a retracement during Europe but rallied back during US and closed strong at the highs. Its mid term day today so we will start seeing results of the elections through the trading day. This could mean some high volatility so be aware and manage risk. I doubt we get the moves like when Trump won or Brexit but better to be prepared. With the way SPI keeps grinding higher look for that to continue today, as such keep looking for dips to buy. CBA reported this morning and may lead the way higher. For todays trading I am looking to buy dips around 5840 and sell rallies around 5900