Meteor Watch Friday, page-9

SPI futures went down like a meteor last night, putting in an impressive 93 point range, high being 5778, low being 5685, with a close of 5,710 down 67 points, on way above average volume of 11,725 contracts, indicating the XJO to be down .86 pct at the open. Based on last nights move, my high resistance line is 5817, low support line is 5631, with the pivot point being 5724. After European markets were down, US followed the red army down, DOW down .78 pct, NASDAQ down 1.44 pct, SPX down .85 pct and Canada down .93 pct. One index that was green, was the VIX, up 14.46 pct.

After such a SPI futures overnight move, usually I would be waiting for a nice opening gap to trade and then go with the arrows. Not sure this morning, will do what the charts tells me to do.