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

SPI200 Commentary Follow or Fade! SPI consolidated recent falls...

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    SPI200 Commentary

    Follow or Fade!

    SPI consolidated recent falls on Friday and managed a small rally to resistance in the overnight session. The XJO has had a sharp drop over the last few days so a relief rally looks on the cards, so I am looking for a rally to near the 5800 level to get short again on the XJO. There has been a bit of divergence between sectors on the XJO with the banks still weak but materials starting to get a bid with the weakness in the USD. So look for the miners to lead the XJO higher but if the banks cant participate then this rally will have shaky legs. For todays trading I am looking to buy dips around 5740 and sell rallies around 5780

    20170522 SPI 1.PNG
 
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