SPI futures traded - fell would be a better word - in a 132...

SPI futures traded - fell would be a better word - in a 132 point range last night, with a high of 6581, low of 6449, and a close this morning of 6460, down 110 points, on high volume of 25,200 contracts. Yes, I did previously ask the question "what will happen once the volume returns..?" She poofed eleven unfilled price gaps last night, so now there are zero gaps on the downside and two up from last night at 6472 and , 6507. Yes, a 132 point range and only two gaps.  Red arrow good for another 100 points. Humm. There are seven more unfilled gaps above the ones from last night, but I wouldn't worry about them today. RBA day today, to cut or not to cut, that be the question. If they cut, who cares on a day like today, and if they don't cut, who cares on a day like today. Although cutting shows yet again, that the economy is not doing that great.. One things highly likely - they won't be raising. I tried to find a correlation between RBA cuts and market declines similar to the one I posted on Friday regarding the Fed cuts but failed. If somebody has one and could post it, that would be great. .  XJO daily chart heading into the crossover zone - probably today, unless those dividend buyers come in, but if they wait a bit longer, might be cheaper. Have a nice day.


Yuan sliding, markets tanking. Europe down another 2 pct, DOW down 767.27, or 2.9 pct, SNP down 2.98 pct and the VIX up 39.64 pct to 24.59. A great start to the week. I wonder what other bombs will be dropped.





Today in 1945,  a B29 Superfortress nicknamed "Enola Gay" after the pilot's mother, dropped the first atomic bomb to be used in warfare, on Hiroshima. The bomb, nicknamed "Little Boy" contained more power than 12,000 tons of TNT and produced more than 2,000 times the blast of the most powerful bomb ever dropped before. Looking at those red numbers this morning, one could be excused for thinking the bomb was dropped last night. On a brighter note, Enola Gay is also the name of a great song by OMD..

	Column 1	Column 2
0	H	6581
1	L	6449
2	C	6460
3	R	132
4	R6	6629
5	R5	6596
6	R4	6578
7	R3	6563
8	R2	6547
9	R1	6530
10	PP	6497
11	S1	6464
12	S2	6446
13	S3	6431
14	S4	6415
15	S5	6398
16	S6	6365