Monday July 22 - Plan number 9

SPI Futures traded in a 32 point range Friday night, with a high of 6645, low of 6613 and a close on Saturday morning of 6616, down 26 points, on low volume of 6,573 contracts. Based on that range, my pivot point and R and S levels are below. There are no gaps left from Friday night, and that doesn't happen very often. First one down from a previous day is 6576, first one up from a previous day is 6672, so we are right in the middle of them, with the one down being closer. Let's see what the ES does when they re-open, for a clue as to our open.

Geopolitical tension and expectations for a smaller Fed rate cut (boo hoo) sending the US markets down, DOW down .25 pct, SNP down .62 pct and Canada (resource driven) down less at .05 pct, so some hope for the XJO today. VIX up 6.80 pct to 14.45. Iranian Commando's boarding a UK oil freighter via helicopter and it seems tensions are high. I hope somebody has a plan. Have a nice day.



Today in 1959, Ed Wood's cult classic "Plan 9 From Outer Space", called one of the worse films ever, premiered in the US. The plot itself was comical: extraterrestrials are hoping to prevent humanity from creating a doomsday device that could destroy the universe. Plan 9 refers to the alien's attempts to resurrect Earth's dead and cause chaos, thereby hoping to make humanity listen to them. Just like my trading. I have a plan, but the market doesn't listen. If you didn't catch the movie, don't bother.

	Column 1	Column 2
0	H	6645
1	L	6613
2	C	6616
3	R	32
4	R6	6657
5	R5	6649
6	R4	6644
7	R3	6641
8	R2	6637
9	R1	6633
10	PP	6625
11	S1	6617
12	S2	6612
13	S3	6609
14	S4	6605
15	S5	6601
16	S6	6593