SPI200 Commentary
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SPI had a large range day Thursday as it was held up at bit which could be from options expiry. Night session saw a lot of weakness and made new lower lows. The way SPI has rejected those lows shows that a bottom could have been put in overnight and we could get a short squeeze. This action was clearer in SNP. So look for more whippy action as it looks like the XJO could play games just above the 6000 level. Should the internals decide to move in time i.e. banks and resources then we could see a big move in either direction but seems chances are banks may bounce from the lows while other sectors are taking profits. For todays trading I am looking to buy dips around 6010 and sell rallies around 6050
Wine Friday, page-11
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Last
7,971.6 |
Change
-64.900(0.81%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,036.5 | 8,036.5 | 7,923.6 |
| XJO (ASX) Chart |