Thursday Jan 3rd - Triple digit night

SPI Futures traded in a 119 point range last night, with a high of 5580, low of 5461 and a close this morning of 5474 up 87 points on volume of 18,861 contracts. Based on that range, my pivot point for today is 5505, with resistance lines at 5624, 5594, 5579, 5565, 5550 and 5535, and support lines at 5475, 5460, 5446, 5431, 5416 and 5386. The ES futures had a gap on the upside which filled last night, leaving one on the low side, and gaps on the ES 'always' fill - well, pretty much always, and this is due to the large volume. DOW up .08 pct after being down earlier in the session, SNP up .13 pct and Canada (resource driven) up .19 pct. VIX down 9.13 pct to 23.10. Gaps on the SPI, up at 5580, 5495, 5625 and 5647 and down at 5494, 5490 (which is a 3 pointer and always fill), and the 67 pointer, at 5413 - which will fill. So, the chart suggests up a bit first, then the elevator down. Have a nice day.



ES chart.