Thursday August 29 - Flying Solo

SPI Futures traded in a 54 point range last night, with a high of 6477, low of 6423, and a close this morning, of 6463, down 9 points, on volume of 12,300 contracts. Based on that range, my pivot point and R and S levels are below. Yesterdays opening morning gap at 6420 missed being filled by 3 points, but the night session opening gap at 6471 filled, leaving gaps from last night, up at 6470, and down at 6457, 6444 and then 6420.

A newsless day with a negative start attributed to declining Treasury yields, US markets ended in the green, with the DOW up 1.00 pct, SNP up .65 pct, and Canada (resource driven) up less, at .54 pct. VIX down 4.73 pct to 19.35. No news is good news. Have a nice day.



Today in 1929, at the age of 23, Aviator Anne Morrow Lindbergh, the wife of fellow aviator Charles Lindbergh, made her first solo flight. In 1930, she became the first American woman to earn a first-class glider pilot's license. During the 1930s, together, they explored and charted air routes between continents. The Lindberghs were the first to fly from Africa to South America and explored polar air routes from North America to Asia and Europe. Flying solo, is akin to trading solo. You get to talk to yourself, doubt yourself and argue with yourself all day, and all night long. One thing you do learn quickly, is that you must trust your instruments. If they say the plane, just like the market seems at the moment, is upside down, it probably is.. Don't fight the joystick..

	Column 1	Column 2
0	H	6477
1	L	6423
2	C	6463
3	R	54
4	R6	6508
5	R5	6495
6	R4	6488
7	R3	6481
8	R2	6475
9	R1	6468
10	PP	6454
11	S1	6441
12	S2	6434
13	S3	6427
14	S4	6421
15	S5	6414
16	S6	6400