Thursday May 23 - Once upon a time

SPI Futures traded in a smallish 28 point range last night, with a high of 6523, low of 6495 and a close this morning of 6503, down 11 points. on small volume of 7,870 contracts. Based on that small range, my pivot point and R and S levels are below, but if she breaks S6, I see a 6444 in her future. One gap above from last night at 6505 and none down from last night, but plenty below that. Six green daily bars on the XJO, SPI tring to hang onto the 6500 level, closing only 20 point higher than the day before, being 7 points in contango and an incoming red arrow on the hourly chart suggests to me she is going down soon, but that's just me.. Renewed US-China trade tensions push down US markets. The day before it was trade related enthusiasm, oh well, DOW down .39 pct, SNP down .28 pct and Canada (resource driven) down more, at .60 pct. VIX down 1.34 pct, bucking the inverse correlation. Have a nice day.



Today in 1984, the Crime epic film "Once Upon a Time in America" directed by Sergio Leone starring Robert De Niro and James Woods premiered at Cannes. The original "European cut" has remained a critical favorite and frequently appears in lists of the greatest gangster films of all time. Looking forward to the financial version - "Once upon a time in the financial system" - Could be one of the greatest bankster movies of all time.

	Column 1	Column 2
1	H	6523
2	L	6495
3	C	6503
4	R	28
5	R6	6535
6	R5	6528
7	R4	6524
8	R3	6521
9	R2	6518
10	R1	6514
11	PP	6507
12	S1	6500
13	S2	6496
14	S3	6493
15	S4	6490
16	S5	6486
17	S6	6479