Wednesday 24 June Market Maker has your money., page-3

SPI futures traded in yet another relatively normal, 48 point range last night, with a high of 5975, low of 5927, and a close this morning of 5934, up 9 points, on lowish volume of 11,748 contracts. Gaps from last night are up at 5971, 5950, 5944, and down at 5928.

In economic news, June flash Manufacturing PMIs in Europe improved more than expected, and US New Home Sales jumped 16.6 pct in May, more than expected. New home sales, which account for about 10 pct of housing market sales, are counted at the signing of a contract, making them a leading housing market indicator. Existing home sales, which were down the previous day, reflects when sales are closed, which typically occurs one to two months after signing. However, the government uses a small sample size to produce the new-home sales report, which makes it prone to significant revisions, as in the case of April’s figure, which was readjusted to a pace of 580,000 from the originally reported 623,000. DOW up .50 pct, SNP up .43 pct, NASDAQ up .74 pct closing at another record high, and Canada (resource driven) up less, at .31 pct. US markets did however, close near session lows, with the deal-or-no-deal with China mixed messages, and US Treasury Secretary Mnuchin warning that decoupling from China is possible if their trading relationship remains uneven. Humm. VIX down 1.26 pct to 31.37. Have a nice day.

	Column 1	Column 2
0	mce-anchorH	5975
1	L	5927
2	C	5934
3	R	48
4	R6	5993
5	R5	5981
6	R4	5975
7	R3	5969
8	R2	5964
9	R1	5957
10	PP	5945
11	S1	5933
12	S2	5927
13	S3	5921
14	S4	5916
15	S5	5909
16	S6	5897