Tuesday July 9 - Peaks and Troughs

SPI Futures traded in a small 21 point range last night, with a high of 6626, low of 6605, and a close this morning of 6616, up 1 point, on low volume of 7,300 contracts. Based on that range, my pivot point and R and S levels are below. Two gaps left from last night, up at 6225, and down at 6611, with the next one down at 6600 from a previous day, and a few more below that. Aggressive rate cut hopes recede in the US with the DOW down .43 pct, SNP down .48 pct and Canada (resource driven) down .48 pct. VIX up 5.12 pct to 13.96. Have a nice day.



Today in 2001, "The Office" - a mockumentary created by Ricky Gervais and Stephen Merchant, starring Ricky Gervais and Martin Freeman premiered on BBC Two in the UK. The show centres on themes of social clumsiness, the trivialities of human behaviour, self-importance and conceit, frustration, desperation and fame. The protagonist David Brent was influenced by Basil Fawlty (played by John Cleese) from the acclaimed BBC sitcom Fawlty Towers. David Brent could have been a trader too, as he is quoted as saying "Life, like a chart, is just a series of peaks and troughs. And you don't know whether you're in a trough until you're climbing out, or on a peak until you're coming down. And that's it you know, you never know what's round the corner. But it's all good. "If you want the rainbow, you've gotta put up with the rain."

	Column 1	Column 2
1	H	6626
2	L	6605
3	C	6616
4	R	21
5	R6	6637
6	R5	6631
7	R4	6629
8	R3	6626
9	R2	6624
10	R1	6621
11	PP	6616
12	S1	6610
13	S2	6608
14	S3	6605
15	S4	6603
16	S5	6600
17	S6	6595