Thank you and goodbye to September, and hello to December...

Thank you and goodbye to September, and hello to December expiration. December SPI futures traded in a 30 point range last night, high being 5703, low being 5673 with a close this morning of 5702, up 3 points on volume of 8,075 contracts. Based on that move, my high resistance line is 5723, low support line is 5663, with the pivot point at 5693.  I see gaps on the low side at 93, 87 and 84 which I think will fill soon after open. Just before the close this morning, there was a 4 point  spread on the bid/ask, so might be some fun and games at the open given it's the first real day of trading for this contract (in terms of volume) as it becomes the front month contract.  I'm still curious about the 10 point backwardation. We shall see. DOW up .19 pct, SPX up .06 pct, Canada up .63 pct (good for resources), and the VIX, well, the VIX was down .79 pct to 10.1, VXD down 1.21 pct to 9.83, back to very happy days. Humm.



Have a nice day, and be thankful come what may.