Wednesday August 28 - I have a dream

SPI Futures traded in a 38 point range last night, with a high of 6452, low of 6414, and a close this morning of 6420, down 10 points, on volume of 11,800 contracts. Based on that range, my pivot point and R and S levels are below. The outstanding gap at 18 filled last night, leaving a gap up at 6431. The next one down from a previous day is at 6357. Yes, no gaps the previous night and just one last night - humm.

In the headlines. Bond yields continue to fall as demand for safe havens like Treasuries stay elevated. The 10-year bond yield, last at 1.4794%, dropped to a fresh low of the year. The 2-year and 10-year yield curves remain inverted, flashing a historical recession indicator. Consumer confidence stronger than expected, however, hopium does not always triumph over realism. DOW down .47 pct, SNP down .32 pct, and Canada (resource driven) closed for Labour day holiday. VIX up 5.12 pct to 20.31. Have a nice day.



Today in 1963, Martin Luther King  Jr. delivered his "I have a dream" speech, addressing a civil rights march at Lincoln Memorial, Washington, D.C., in which he called for civil and economic rights, and an end to racism in the United States. Delivered to over 250,000 civil rights supporters, the speech was a defining moment of the civil rights movement, and one of the most iconic speeches in American history. I have a dream too. I have a dream, that one day, the President will stop tweeting. I have a dream, that China and America can live and trade together in peace and hamony. I have a dream, that no matter what colour, the big bar, stop loss hunter from hell, will cease..

	Column 1	Column 2
0	H	6452
1	L	6414
2	C	6420
3	R	38
4	R6	6467
5	R5	6457
6	R4	6452
7	R3	6448
8	R2	6443
9	R1	6438
10	PP	6429
11	S1	6419
12	S2	6414
13	S3	6410
14	S4	6405
15	S5	6400
16	S6	6391