SPI futures traded in a 122 point range last night (Yep, back to triple-digits again), with a high of 5934, low of 5812, and a close this morning of 5837, down 92 points, on volume of 17,181 contracts, which isn't that huge for such a large range. Gaps from last night are up at 5910, and down at 5818 - both ends of the spectrum. Based on that range, my pivot point (PP) and R and S levels for today are below.
In the headlines - take your pick - In a twist of fate, Europe considering banning American travellers...The IMF warning the global economy faces an even deeper downturn than previously projected as the coronavirus pandemic continues to sow uncertainty, and businesses around the world struggle to operate amid the virus, with expectations that the global economy will shrink 4.9 percent this year, a larger contraction than the previously predicted 3 percent. Virus numbers spiking and panic buying returns to Victoria with the ADF asked to assist - "Move away from the toilet paper"... Red numbers started in Europe, and ran into the US session, with London down 3.11 pct, Paris down 2.92 pct, Frankfurt down 3.43 pct, DOW down 2.72 pct, SNP down 2.59 pct, NASDAQ down 2.19 pct, and Canada (resource driven), down less, at 1.74 pct. Gold, which is close to 8 year highs, down .23 pct, Silver down 2.55 pct, Brent Crude futures down 5.47 pct to 40.30 and WTI Crude futures down 5.92 pct to 37.98. Volatility indices in the green, with the VIX up 7.87 pct to 33.84, VXD up 5.17 pct to 35.38 and VXN up 7.52 pct to 33.58. Have a nice day.
View attachment 2256474 | Column 1 | Column 2 |
|---|
| 1 | mce-anchorH | 5934 |
|---|
| 2 | L | 5812 |
|---|
| 3 | C | 5837 |
|---|
| 4 | R | 122 |
|---|
| 5 | R6 | 5983 |
|---|
| 6 | R5 | 5953 |
|---|
| 7 | R4 | 5936 |
|---|
| 8 | R3 | 5922 |
|---|
| 9 | R2 | 5908 |
|---|
| 10 | R1 | 5892 |
|---|
| 11 | PP | 5861 |
|---|
| 12 | S1 | 5831 |
|---|
| 13 | S2 | 5814 |
|---|
| 14 | S3 | 5800 |
|---|
| 15 | S4 | 5786 |
|---|
| 16 | S5 | 5770 |
|---|
| 17 | S6 | 5739 |
|---|
Today in 2018, the UK House of Commons voted for a controversial third Heathrow runway, which will probably be empty for a while longer than planned.
(20min delay)