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SPI 12.5¢

SPI and CBA

  1. These are my post from the weekend.


    50% of the yearly pivot range, i'm sure buying around this area, if it breaks then i would wait approx for a 3 day swing trade back above to look for longs.

    Any longs in this market has to be treated as short term.>

    CAB didn't get to 29.47 but close enough (didn't get on) tomorrow resistance 30.60 from there maybe back upto 31 and then stall.



    i'll be treating 3063 as a support area, how far will it bounce (if it does), will it close the gap back upto 3096 and then head down to extreme target of 3033 another 50 points lower, is anyones guess.

    I think S&P is nearing a short term low, major support at 842, touched on friday night, if this breaks then i think we could be in a lot more trouble.

    So right now i would be treating monday as a low period
    with 3063 as my magic number only because of the S&P has reached 842.>

    SPI today gapped open down LOD 3345 (50% of sats range) once it got above 3063 didn't fall back under and swung back upto 3096+.

    Tomorrow,

    resistance 3115 with a swing back to 3078. Don't know where its going to open but if its up tonight then a short from open tomorrow i'll be looking for, but over the next 3 days my hunch the SPI could end back upto 3130+

    Still believe 842 on S&P will be critical support, if it gaps lows and gets back above its looking good.

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