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May is BBQ Month, page-10

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5speed

10,740 Posts.

2086

01/05/18

10:11

Post #: 32791540
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Originally posted by 5speed ↑

Invite a man to a barbecue and feed him for the day. Teach a man to barbecue and feed him for life. Welcome to the month of May. SPI futures traded in a 29 point range last night, high being 5975, low being 5946 with a close this morning of 5949, down 17 points on volume of 8,102 contracts. Interesting to note that at 05;55 am, 390 contracts went through on the red side. None of these of course showed up on the time and sales, and is unusual for a night session, but maybe not so unusual for the first trading day of the month. Based on last nights range, my high resistance line is 5986, low support line is 5928, with the pivot point at 5957. The gap from the day session at 54 closed last night, leaving gaps at 72 and 61 on the high side. Now that it's May, and the high outstanding gap filled at 58, from a gap traders perspective, it's time to focus on the lower outstanding gaps, for example, the one down at 5739, which is 210 points below where she is now. Have a nice day, and remember, friends may come and go, but barbecues accumulate. Keep an eye on that backwardation points number. Should be narrowing soon. cheers

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61 and 72 gaps filled.

XJO Value at posting: 5,989.2
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