SPI200 Commentary
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SPI had a weaker day Friday as 5900 resistance holds on XJO. US was weaker on Friday with AUD and NZD lower, so it seems we are starting to get more of a risk off mode on the markets at the moment. US bond yields are starting to break higher, so it seems inflation is on the cards now. That means metals and energy are getting a boost. The royal commission is getting their teeth stuck into the banks, so it will be hard to see them being supported. So with all that it seems we have opposing forces within the SPI which means more choppy action. There is a good level of resistance in place on the XJO, so favouring looking for rallies to sell into. For todays trading I am looking buy dips around 5810 and sell rallies around 5850
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