Thursday 29 November - Rates are us

SPI Futures traded in a 51 point range last night, with a high of 5768, low of 5707 and a close this morning 3 points off the high, at 5765, up 40 points on volume of 11,208 contracts.DOW up 2.50 pct, SNP up 2.30 pct and Canada (resource driven) up 1.46 pct. VIX down 3.26 pct to 18.40. So, what happened last night ? They found a cure for Cancer and World Peace ? Nope, just the Fed saying they 'may not' have to raise rates in 2019...  No wonder the VIX didn't drop more inversely to the nice up move in the SNP. So, will we follow the US move, well maybe, however I see gaps from last night down at 5734 and 5717 left from the news driven takeoff green bar at 4 am - the next unfilled gap on the upside is at 5818 from a previous day. Have a nice day.