Thursday October 10 - The long road

SPI Futures traded in a 63 point range last night, with a high of 6568, low of 6505, and a close this morning of 6555, up 41 points, on volume of 13,422 contracts. Based on that range, my pivot point and R and S levels are below. Gaps from last night are down at 6526 and 6507, then 6498 and 6492 to name a few, and up from a previous day at 6575 and 6596.

In the headlines - US-China trade talks. Things are good, things are bad, is seems to depend on what news feed you read and when you read it. China to retaliate, China willing to do a 'small' deal if the US reduce tariffs etc. Trump playing hardball. I guess we will find out soon enough and I will be pedalling carefully in the market the next couple of days, as some of those reporters could sell a bicycle to a guy with no legs. DOW up .70 pct, SNP up .91 pct and Canada (resource driven) up less, at .53 pct. VIX down 1.64 pct to 18.64. Have a nice day.



Today in 1974, 49 year old Canadian John Hathaway began his 2 year bicycle ride of 50,600 miles. His 100-week world tour took him through 52 countries and six continents, and earned him a spot in the Guinness Book of World Records. Yes John, just like learning to trade, the road is long, and begins with the first step, or in this case, the first pedal. Unfortunately, as a barber would say, there are no short cuts, and you need a map and the stamina, also known as margin, to go the distance.

	Column 1	Column 2
0	mce-anchorH	6568
1	L	6505
2	C	6555
3	R	63
4	R6	6606
5	R5	6590
6	R4	6582
7	R3	6574
8	R2	6567
9	R1	6558
10	PP	6543
11	S1	6527
12	S2	6519
13	S3	6511
14	S4	6504
15	S5	6495
16	S6	6480