Tuesday November 5 - Pick a good one

SPI Futures traded in a 47 point range last night, with a high of 6699, low of 6652, and a close this morning of 6688, up 31 points, on low volume of 9,039 contracts. Based on that range, my pivot point and R and S levels are below. Gaps from last night are down at 6690, 6684, 6682, 6681, 6655, 6649, then 6639 and 6637 from a previous day. Next gap up from a previous day is at 6704, then 6721 and 6736.

In the headlines. Westpact report not so good yesterday. Melbourne Cup day, RBA day (expectations are low for a rate cut), US indices in record high territory on continued 'hopes' that the US and China will reach a full trade agreement, after the  "phase one" trade deal, which also hasen't been agreed upon yet.   DOW up .43 pct, SNP up .38 pct and Canada (resource driven) up .47 pct. VIX up 2.93 pct to 12.66, bucking the inverse correlation. All three Volatility Indices were in the green, so maybe some 'It can't go up forever' protection creeping in. Have a nice day.



Today in  1953, the film "How to Marry a Millionaire" the first to be filmed in CinemaScope, directed by Jean Negulesco, starring Lauren Bacall, Betty Grable and Marily Monroe was released.  The film was a  romantic comedy about three women, who set out to find eligible millionaires to marry, but find true love, in the process. In keeping with Melbourne Cup day, to quote Lauren Bacall, "Most women use more brains picking a horse in the third at Belmont than they do picking a husband." True, true.

	Column 1	Column 2
1	mce-anchorH	6699
2	L	6652
3	C	6688
4	R	47
5	R6	6727
6	R5	6715
7	R4	6709
8	R3	6703
9	R2	6698
10	R1	6691
11	PP	6680
12	S1	6668
13	S2	6662
14	S3	6656
15	S4	6651
16	S5	6644
17	S6	6633