Winston Churchill Monday, page-2

We shall fight them with our longs, we shall fight them with our shorts, and we shall never surrender.  SPI futures traded in a 73 point range Friday night, high being 5798, low being 5725, with a close on Saturday morning of 5739, down 33 points on volume of 16,620 contracts. Based on that move, my high resistance line is 5827, low support line is 5681, with the pivot point at 5754. Gaps from Friday night up at 45 and 81. Gaps on the downside left from previous days are at 5718, and 5687. DOW down 2.34 pct, SNP down 2.19 pct, Canada down .97 pct (resource driven) and the VIX up 13.46 pct. SPI is indicating XJO to be down .57 pct today, which surprised me given the rather large falls of Wall Street, so watch for a potentially large opening gap, but more importantly, keep an eye on the US futures once they open in half an hour as they will be open for three hours before we open and that should provide a clue as to our fate today. Have a nice day.