Friday March 8 - Not very stimulating

SPI Futures traded in a 56 point range last night, with a high of 6287, low of 6231 and a close this morning of 6235, down 35 points on better than lately volume of 16,000 contracts. Based on that range, my pivot point and R and S levels are below. Gaps up at 6285, 6271, and 6266 and down at 6232 from last night, then down at 6196 from a previous day, and more, but that will probably surfice for today. Big spike around midnight set my alarm off, then it fell away to fill yesterdays opening gap. So what happened ? Well, the Eurozone is going so good that the European Central Bank is providing more stimulus and no more rate hikes this year. Add that to our banks calling for rate cuts and the US spitting the dummy at the suggestion of a rate hike, - I don't know about you, but I don't feel very stimulated. So, is bad news good news this time (the economy being not that good that is), or is good news bad news ? Well, the market went down this time, when she usually goes up on more free money hopium, so we shall see. DOW down .78 pct, SNP down .81 pct and Canada (resource driven) down less at .24 pct. Europe weren't very stimulated either, all mostly in the red except Hungary, but who cares... Oh, and it's Friday, the anything can happen day. Have a good one.

	Column 1	Column 2
0	H	6287
1	L	6231
2	C	6235
3	R	56
4	R6	6307
5	R5	6293
6	R4	6286
7	R3	6279
8	R2	6272
9	R1	6265
10	PP	6251
11	S1	6237
12	S2	6230
13	S3	6223
14	S4	6216
15	S5	6209
16	S6	6195