SPI Futures traded in a 36 point range last night, with a high of 6664, low of 6628, and a close this morning of 6645, down 2 points on low volume of 7,048 contracts. Based on that range, my pivot point and R and S levels are below. A nice 25 point drop at 4:30 when I woke up, leaving gaps at 6652 and 6662 from last night and 6670 on the upside from a previous day and then down at 6620, 6612 and 6609 from a previous day.
In the deadlines, err, headlines - Brexit. Still ongoing. Looks like a Delayxit. Impeachment may happen before Brexit the way things are going. US Earnings in the next few days, and the Fed meets next week, and according to the CME Group's FedWatch tool, 93.5% of investors expect a 25 basis point rate cut. True, true. DOW down .15 pct, SNP down .36 pct and Canada (resource driven) down .16 pct. VIX up 3.29 pct to 14.46. Have a nice day.
Today in 2018, "Bohemian Rhapsody", a biographical drama film about Freddie Mercury, the lead singer of the British rock band Queen, directed by Bryan Singer, starring Rami Malek, premiered in London. It was a major box office success, grossing over $903 million worldwide on a production budget of around $50 million, becoming the sixth highest grossing film of 2018 worldwide, and setting the all-time box office record for the biographical film and drama genres. Bohemian Rhapsody became Queen's most popular song, the UK's third best selling single of all time, and is considered one of the greatest rock songs, as stated when inducted into the Grammy Hall of Fame. The number of downloads of the song and original ground breaking music video has exceeded 1.6 billion across global on-demand streaming services. Yes Freddie, thank you for writing that great song, which I listen to whilst trading, but sing the lyrics slightly differently.
Is this the real life? Is this just fantasy?
Caught in a market slide, no escape from reality
Open your eyes, look up to the charts and see
I'm just a poor trader, I need no sympathy
Because it's easy come, easy go, sell it high, buy it low
Any way the wind blows, doesn't really matter to me.
US Earnings in the next few days, and the Fed meets next week, and according to the CME Group's FedWatch tool, 93.5% of investors expect a 25 basis point rate cut. True, true. DOW down .15 pct, SNP down .36 pct and Canada (resource driven) down .16 pct. VIX up 3.29 pct to 14.46. Have a nice day.
(20min delay)