Wednesday July 24 - Survivor

SPI Futures traded in a 42 point range last night, with a high of 6698, low of 6656, and a close of 6691, up 33 points on better than lately, but still low volume of 8,600 contracts. Bottom left of the chart to the top right of the chart. Green arrow all the way, up 51 points since this time yesterday morning. What's that saying about things that go up... humm.

The gaps at 72, 74, 84 and 89 all filled last night, leaving no gaps on the upside from a previous day but a gap at 6698 from the close of last night, and gaps down below from last night at 6684, 6671 and 6668, then 6647 from yesterday and the rest. SPI is projecting the gap on the XJO daily chart at 6751,  left from the open of July 8 will fill today.

In the headlines - The White House has struck a two-year deal with Congress to raise America’s $22 Trillion borrowing limit (Yep, 12 zero's), known as the debt ceiling, removing the threat of a US debt default and raising federal spending, US-China trade talk hopium, positive earnings, and yes, the highly expected rate cut, coz we need more cheap money to buy already expensive stocks. You couldn't make it up if you tried. DOW up .65 pct, SNP up .68 pct and Canada (resource driven), up less, at .31 pct. VIX down 6.80 pct to 12.61. Have a nice day.





Today in 1982, the single "Eye Of The Tiger" by Survivor from the "Rocky III" soundtrack began a 6-week run at No. 1 on the US charts (Grammy for Best Rock Performance). Yes, everybody needs a montage to start the day, and traders are no different. Put on those running shoes, pound the pavement, hit that boxing bag and get that don't mess with me 'look' back into your eyes.. err, or have a coffee instead. Eye of the SPI..

	Column 1	Column 2
1	H	6698
2	L	6656
3	C	6691
4	R	42
5	R6	6724
6	R5	6713
7	R4	6708
8	R3	6703
9	R2	6698
10	R1	6692
11	PP	6682
12	S1	6671
13	S2	6666
14	S3	6661
15	S4	6656
16	S5	6650
17	S6	6640
18