Yes, it's true. I'm smart and I'm sexy in a Homer Simpson kind of way, so move along please, nothing more to see here. SPI futures didn't do much moving last night, trading in a 28 point range, high being 6011, low being 5983, with a close this morning of 5992, up 3 points on high volume of 36,979 contracts. June contract closed at 5987, up 8 points, on high volume of 30,179 contracts. High volume more than likely due to contract rollovers, March to June expiration. Based on last nights move, my high resistance line for today is 6023, low support line is 5967, with the pivot point at 5995. Intermediate R and S lines are on the chart. Gaps from last night are one on the high side at 6010, and one on the low side at 5983, with outstanding gaps on the low side at 77 and 58. As the US clocks have changed, the US futures now open 50 minutes before SPI futures and an hour before the XJO, so watch out for potentially larger than usual gaps at our open if US futures do a large move whilst we are closed. This is the time for the opening gap trader to make some decent above average returns. US down, VIX up. Have a nice day.
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