Monday Jan 21 - Broken record day

SPI Futures traded in a 56 point range Friday night, with a high of 5870, low of 5814 and a close on Saturday morning of 5864, up 43 points, on better than lately, but still smallish volume of 11,997 contracts. Based on that range, my pivot point for today is 5849, with resistance lines at 5905, 5891, 5884, 5877, 5871 and 5863 and support lines at 5835, 5828, 5821, 5815, 5807 and 5793. Sounding like a broken record here but..  no gaps above, and gaps down at 5834, 5830 and 5826 from Friday night and 'lots' of unfilled gaps below that from previous days.   DOW up 1.38 pct, SNP up 1.32 pct and Canada (resource driven) up less at .61 pct. VIX down 1.44 pct to 17.80. Reading a report this morning which said 'US stocks rose on 'hopes' that the trade war would be resolved, adding -  'Although a rumour, the market has bought it for now and if it turns out to be untrue, the selloff would be intense.' Humm. I tend to agree, but it all depends how you look at it. Whatever happens today it probably won't be as bad as this day in 2008 as today was a Black Monday day in worldwide stock markets. FTSE saw its biggest ever one-day points fall, European stocks closed with their worst result since 9/11, and Asian stocks drop as much as 15%. Have a nice day. Oh, and no agreement on the wall over the weekend, just more mud being thrown.. but it is a long weekend in America, so we shall see.