SPI200 Commentary
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SPI continued to grind higher Thursday as XJO trades near the 5800 level. Trump has just come out and talked about increasing the tariffs and in response the SNP has dropped 36 points and Dow down 400. So expect a big gap down on the SPI this morning. The banks which did most of the heavy lifting yesterday, so as usual keep an eye on their price action for how hard SPI will get hit. Its also non farm payrolls tonight so traders may be looking to lower risk for the end of the week. Should be a volatile session today but just as long as the week lows hold then it should just consolidate around the lower end of the weeks range. For todays trading I am looking to buy dips around 5700 and sell rallies around 5760
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