Monday May 20 - Back to basics

SPI Futures traded in a 47 point range Friday night, with a high of 6391, low of 6344 and a close on Saturday morning of 6368, up 5 points on so great volume of 10,1901 contracts. Based on that range, my pivot point and R and S levels are below. Three gaps from Friday night, down at 6365, 6357 and 6353 - then a whole bunch below that and non above. Hoping for nice gap up at the open. China calling out the US on it's aggressive negotiation tactics, suggesting the US change it's approach if it wants to go to Beijing for meaningful discussions, and then consumer sentiment hitting a 15 year high, (although the numbers were tabulated prior to the tariff set-backs), sending the US markets up and down, and ending with the DOW down .38 pct, SNP down .58 pct and Canada (resource driven) down less at .26 pct. VIX up 4.38 pct. Although interesting, what really matters is, what the ES does at 8 am this morning when she re-opens when it comes to the SPI and then the XJO. She just did that and are going up - a bit. Election out of the way with no change in government. Back to basics. SPI CFD just gapped up to 6414 too. Nice.



Today in 2015, five major world banks (JPMorgan, Barclays, Citigroup, RBS and UBS) fined USD 5.7 billion for manipulating currency markets - some of the largest ever fines. Really ? I was shocked to read that, but I'm sure they are not doing it anymore. Naughty Banks..   We wouldn't want to trade in a rigged market now, would we...?

	Column 1	Column 2
1	H	6391
2	L	6344
3	C	6368
4	R	47
5	R6	6415
6	R5	6403
7	R4	6397
8	R3	6391
9	R2	6386
10	R1	6379
11	PP	6368
12	S1	6356
13	S2	6350
14	S3	6344
15	S4	6339
16	S5	6332
17	S6	6321