Tuesday October 23rd - SPI Futures

After a 14 point drop at the close, SPI Futures finished the night session at 5879 down 12 points in what was a 54 point range with a high of 5914 and a low of 5860. Based on that range, my high resistance line for today is 5938, low support line is 5830, with the pivot point at 5884. Gaps from last night, 2 up at 5908 and 5903, and 3 down at 5876, 5875 and 5871. The one at 76 is a 2 pointer (higher probability). There was a 2 pointer earlier in the night also, which is unusual, and that one filled. It was an interesting early start to the night session from a gap perspective, as it was gap central up and down, which shows indecision. Will that follow through today ? Europe were down, DOW down .50 pct, SNP down .43 pct and Canada (Resource driven) down .50 pct. VIX was down 1.31 pct to 19.6 bucking the inverse correlation, yet another sign ? A bit of trivia - Tomorrow is the 10 year anniversary that global markets 'plummeted' after Alan Greeenspan said that the GFC was "a once-in-a-century credit tsunami" So, whatever happens today probably won't be as bad as that. Have a nice day.