SPI Futures traded in a 175 point range last night, with a high of 5210, low of 5035, and a close this morning of 5055, down 169 points, on volume of 20,906 contracts, so still a large nightly range, but less than previous nights. Volume is almost back to normal. The night session started with a 44 point gap down, and is the only unfilled price gap from last night, which reflects a methodical take down of the night session. There was also selling into the close. The next gap down is at 4949 from a previous day. DOW down 4.44 pct, SNP down 4.41 pct, and NASDAQ also down 4.41 pct. All the fours... Volatility indices in the green again, with the VIX up 6.57 pct, VXD up 2.20 pct and VXN up 5.85 pct. Canada (resource driven), down less, at 3.76 pct. In the headlines 'Virus pandemic fears intensify' and 'Unemployment claims could reach 9 million'. Trump warning that the next two weeks will be very panful in terms of coronavirus fatalilites. What's that saying ? Oh yeah, 'Lock the stable door after the horse has bolted'.
Looking at last nights chart, due to the late sell-off into the close, we 'may' get a gap up at the open of SPI, depending on what US futures do after their open in half an hour, but not sure I would be following it. Have a nice day.
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