SPI Futures traded in a small 26 point range last night, with a high of 6555, low of 6529, and a close at the top of the range, at 6555, up 19 points, on low volume of 7,544 contracts. Based on that small range, my pivot point and R and S levels are below, but will give the top and bottom levels a bit of wiggle room.
The gap down at 6482 filled yesterday, and the one left at 6554 from a previous night session open filled last night, leaving one up at 6560 from a previous day, and down at 6552, 6547, 6545, 6541, 6539 and 6530 from last night. Humm.
The Hang Seng Index (HSI) had its biggest daily percentage gain since November 2018 to end at 26,523 points, up 4 pct. It got a major boost during afternoon trading from local media reports on news that a controversial extradition bill that sparked months of protests would be completely withdrawn. There was also good Chinese economic data released, which saw the DOW up .91 pct, SNP up 1.08 pct, and Canada (resource driven), up less, at .30 pct. VIX down 11.85 pct to 17.33. Have a nice day.
Today in 1958, "Doctor Zhivago", a novel by Boris Pasternak waspublished in the USA. While immensely popular in the West, the book was banned in the Soviet Union for decades. For this reason, a 1965 epic romantic drama film adaptation of the book, could not be made in the Soviet Union, and was instead filmed mostly in Spain. The film starred Omar Sharif, as Yuri Zhivago, a married physician, whose life is irreversibly altered by the Russian Revolution, and subsequent Civil War. Contemporary critics of the film were generally disappointed, complaining of its length at over three hours. Yes, I've been complaining about the length of market trading hours for decades, sitting in-front of the screens, watching the war between the green and red army unfold, which is why I mainly trade the open. In and out, in a short period of time. After that, it can be like watching paint dry before the epic afternoon ambush, filled with drama, leaving one with the need to go visit the Doctor.. Doctor Beer that is, or Doctor Bundy, whichever turns you on.
(20min delay)