Wednesday 23 Jan - Take your pick day

SPI Futures traded in a 49 point range last night, with a high of 5817, low of 5768 and a close this morning of 5775 down 28 points on, yes you guessed it, low volume. Based on that range, my pivot point is 5787, with resistance lines at 5836, 5823, 5817, 5811, 5805 and 5799 with support lines at 5774, 5768, 5762, 5756, 5750 and 5738. gaps above at 5787, 5805, 5810, and 5814 from last night and 5864 from a previous day. Next gap down is 5734 and 5709. DOW down 1.22 pct, SNP down 1.42 pct and Canada (resource driven) down less at .87 pct. VIX up 14.33 pct to 20.35. Why ? Well, take your pick. China GDP report, IMF Global economic outlook, Brexit, unresolved trade dispute, US housing market slow down, US Government shutdown, earnings, dogs and cats living together,  to name a few. Have a nice day.