XJO 0.99% 7,896.9 s&p/asx 200

SPI200 Commentary Follow or Fade! SPI had a very strong session...

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    SPI200 Commentary

    Follow or Fade!

    SPI had a very strong session on Friday as it looked like a lot of shorts got squeezed into weeks end. The overnight session brought out some profit takers and sent the SPI back under 5400. The next few days will be interesting as I think that move Friday could have formed a high and we head lower from here, as usual you need to keep an eye on the banks as they led us higher so they will be the stocks to lead the SPI lower. The other scenario is that the XJO will just consolidate around the 5400 before heading back higher, either way it seems our market is due for a pullback and the main question is how big it will be. For todays trading I am looking to sell rallies around 5415 and buy dips around 5370

    20160926 SPI 1.PNG
 
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