Tuesday May 21 - Let's Dance

SPI Futures traded in a 57 point range last night, with a high of 6485, low of 6428 and a close of 6444, down 41 points, on volume of nearly 13,000 contracts. Based on that range, my pivot point and R and S levels are below. Gaps from last night, up at 6486 (close of the day session), 6482, 6471, 6463 and down at 6434, then of course, the rather large 80 point gap from yesterdays open at 6368, a bit of which filled last night. DOW down .33 pct, SNP down .67 pct and Canada (resource driven) down less at .26 pct. VIX up 2.19 pct to 16.31. Europe mostly down too, thanks to China - again. So, usually after a day like yesterday, those that were short take losses, and go long, only to watch it go down.. I just see a nice big gap, and some world issues that just don't seem to want to go away at the moment. No point dancing around the issues. Have a nice day.



Today in 1983, David Bowie's "Let's Dance" single hit number one in the US Singles Charts. It is one of the 300 best-selling UK singles of all time. The music video (which uses the shorter single version) was made in March 1983 on location in Australia including a bar in Carinda in New South Wales and the Warrumbungle National Part near Coonabarabran. Now the charts are saying 'Let's Dance', but they are doing the musical chair thing, so make sure you have a chair left when the music stops. Those people saying XJO is going to 6100 are now saying 6600... I know a good song - "What a difference a day makes..."

	Column 1	Column 2
0	H	6485
1	L	6428
2	C	6444
3	R	57
4	R6	6509
5	R5	6495
6	R4	6488
7	R3	6481
8	R2	6474
9	R1	6467
10	PP	6452
11	S1	6438
12	S2	6431
13	S3	6424
14	S4	6417
15	S5	6410
16	S6	6395