Monday November 4 - We are amused

Monday morning again. I hope you all had a good weekend. SPI Futures traded in a 37 point range Friday night, with a high of 6672, low of 6635, and a close on Saturday morning of 6671, up 25 points, on volume of 11,438 contracts. Based on that range, my pivot point and R and S levels are below. Gaps from Friday night are down at 6667, 6655, 6650, 6639 and 6637 - again, then 6613 from Friday day. Next gaps up from a previous day are at 6676, 6681, 6682, 6683 and 6704.

In the headlines - US record high for the SNP after the October employment report exceeded expectations. Yes, now the Fed has said there is a pause on rate cuts, it appears good news is good news again, and the market shrugged off weak manufacturing data from the Institute of Supply Management, which showed the third monthly contraction in a row. On the earnings front, more than 70 pct of S&P 500 companies have reported earnings for July through September, and the reports look better than anticipated. DOW up 1.11 pct, SNP up .97 pct and Canada (resource driven) up less, at .67 pct. VIX down 6.96 pct to 12.30. Have a nice day.



Today in 1963, John Lennon of the Beatles, uttered his infamous line at London's Prince of Wales Theatre, Royal Variety Performance, before closing with their rendition of 'Twist and Shout" To quote John, "For our last number, I'd like to ask your help. Will the people in the cheaper seats clap your hands? And for the rest of you, if you’ll just rattle your jewelry…" Luckily, the Queen Mother and Princess Margaret watching from the Royal Box, were amused.

	Column 1	Column 2
0	mce-anchorH	6672
1	L	6635
2	C	6671
3	R	37
4	R6	6696
5	R5	6687
6	R4	6682
7	R3	6678
8	R2	6673
9	R1	6669
10	PP	6659
11	S1	6650
12	S2	6645
13	S3	6641
14	S4	6636
15	S5	6632
16	S6	6622