Balloons Thursday, page-7

Will the XJO rise like a hot air balloon, or go down like a lead balloon ? One thing balloons hate is pop music. SPI futures popped a bit last night, putting in a 22 point range, high being 5664, low being 5620, with a close this morning of 5642, up 19 points on volume of 6,342 contracts. Based on that range, my high resistance line is 5664, low support line is 5620, with the pivot point at 5642. If she pops to the upside, there is a gap at 5693 from yesterday morning and also one at 5653. There are a couple down at 41 and 38 which should fill soon after open. Red arrow comet yesterday good for 55 points it you caught the ride. Yet another record high on Wall Street last night, albeit not much in the  upside, DOW up .09 pct, SPX up .12 pct and the VIX also up 1.26 pct to 9.63 - Three days in a row now, the inverse correlation has not held. Maybe the balloon is about t to pop? US markets  have been full of hot air for a while now. Canada down .05 pct, Gold and Silver down a bit. SPI indicates a flat start. I'm thinking a gap down at open and could surprise to the upside seeing as the XJO is usually full of surprises, not hot air, but let the arrows do the talking,



Have a nice day.