Weekly Index Reports 26th April 2008

Australian and US Index Markets: - DOW and S&P

Please click Weekly reports to the Right.

Banking Stocks Weekly Report 26th April 2008


BHP Trading Report 26th April 2008


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SPI Trading 24th April 2008 RECAP

"SPI has completed a Weekly pattern towards the highs yesterday @ 5699, and stalled reversing back down late yesterday

The trend guide for today is simply going to be Monday's 5-day high @ 5660.

Above 5660 and expected push into a higher Weekly close around the 5-day highs 5711+

Below 5660, and it's a random expectation, but probably end up closing on it's lows, therefore my only view is only 44 points down and back to 5-day 50% level"

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SPI 16:00

SPI opens below 5660 and pushes down into the 5-day 50% level and reversing upwards 44 points into a consolidating trading day.

SPI Trading 23rd April 2008 Recap

Morning Report 8:30am :- SPI rotated down into the 5-day 50% level and bounced, with any upside this week towards the Weekly highs @ 5699.

As I pointed out yesterday, I would rather go LONG on Wednesday than on Tuesday, because yesterday was part of a reversal pattern from a higher Weekly open.

Once again Yesterday's 44 point range needs to complete before the trading day begins, and because it's occurring from a higher spiral point the bias is to move down before it goes higher.

In conclusion:- the overall market looks to be going higher, but using intra-techniques I can't trade long on the open because I prefer to trade on the upside from lower spiral points"

SPI RECAP:- 11:20am

SPI moves down into an R44 low and move up towards the Weekly highs @ 5699

SPI Trading 22nd April 2008 RECAP

SPI Recap :- 15:30

SPI moves down from Monday's 5-day highs 5660 and back into Tuesday's 5-day 50% level finding support.

This type of trading (rotation and extension) within the 5-day patterns will probably continue until the New Month of May begins...
WBC Bank

So what's my strategy for the rest of the year?

My strategy is to try and take between 5-15% gains per quarter, and those gains are going to be dependant on my entry prices. As you can see the same strategy recently Buying around the current lows in banks but the % gains are dependant on my entry prices.Between 5-15% gains in each Quarter and I'd be pretty happy with that for 2008.

That is why I want to be Buying back into banking stocks around the Yearly lows again with the expectation that the Yearly lows will support banking stocks for the rest of 2008 and rotate back towards the Quarterly 50% levels.

Therefore I want to be trading double lot positions on Banks around Monthly and Quarterly lows looking for rotations back towards the higher timeframe 50% levels for the rest of this yearBecause Banks will be under pressure and will have enough volatility to be pushed around for many months to come, I will move into weekly swing trading and using the Weekly lows and short-term trading of 2-3 day patterns back into the 50% levels and exit zones." ....

Weekly Report 22nd March Premium Report

2nd trade on WBC and exit @ 23.84, will once again have a look at WBC once it goes Ex-dividend...

SPI Trading 21st April 2008 RECAP

SPI Morning Report (The Premium Trader) 8:30am

After reading the Weekly report, I'm favouring a consolidating market trading between the 5-day ranges until the end of April, and if there is going to be a move higher in this quarter it will probably occur from the MaY 50% levels.

In the mean time let's look what has occur in the markets recently.

Last Week, 2-day reversal down on Wednesday into Friday thus completing a probability pattern after the change of the 3-day cycle, and now there is more reason to move higher towards the Weekly highs @ 5699.

Whilst price is above the previous 3-day high break @ 5548 then the potential is the move towards the 5-day highs.