Lucky Penny Wednesday, page-6

It's lucky Penny was short the last few days, but what should Penny do now ? Well, SPI futures traded in a 30 point range last night, high being 6067, low being 6037, with a close this morning of 6043, down 4 points on low volume of 7,882 contracts. September contract is at 6001. Based on that move, my high resistance line is 6079, low support line is at 6019, with the pivot point at 6049. Next batch of gaps from previous days on the downside are at 5994, 5990, 5987 and 5982. Gaps from last night up at 6061 and 6094 from yesterday. DOW down .72 pct, SNP down .31 pct, and Canada (resource driven) down .11 pct, and the VIX up 1.07 pct to 13.22 - nothing that scary. I think Penny will wait for the open, and then maybe the Penny will drop, but it would be good to get those upside gaps out of the way before Penny adds to her short positions. Have a nice day. cheers