Tuesday July 2 - Alligator day

SPI Futures traded in a 32 point range last night, with a high of 6608, low of 6576, and a close at the top of range, at 6608, up 21 points, on better than lately volume of 10,300 contracts.  Based on that range, my pivot point and R and S levels are below, but the market could go a few points over the R6 level today. Yesterday's opening morning gap filled shortly after the open of the night session before drifting back to the high, leaving gaps below at 6598, 6596, 6588, 6586 and 6585. Next gap up is 6621, then 6632 and 6633, which the highly anticipated RBA rate cut from Darwin (crocodiles, not alligators) 'might' take care of - Yes, the market just loves a sign of a slowing economy..

US markets up, but off their optimistic highs from the open as - yes, the existing tariffs are still in place - DOW up .44 pct, SNP up .77 pct and Canada (resource driven) up .46 pct. VIX down 6.76 pct to 14.06. A gap down at the open would be nice. Have a nice day.



Today in 1843, an alligator fell from the sky during a thunderstorm in Charleston, South Carolina.  It was reported at the time that the two-foot-long alligator “had a look of wonder and bewilderment about him” - Kind of like a trader waiting for the RBA decision, or watching the gap fill. I've heard of raining cats and dogs, but alligators ? What's the difference between a dog and an alligator? -  One's bark is worst than his bite.

	Column 1	Column 2
1	H	6608
2	L	6576
3	C	6608
4	R	32
5	R6	6629
6	R5	6621
7	R4	6617
8	R3	6613
9	R2	6610
10	R1	6605
11	PP	6597
12	S1	6589
13	S2	6585
14	S3	6581
15	S4	6578
16	S5	6573
17	S6	6565