Weekly Index Reports 3rd MAY 2008

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

Please click Weekly reports to the Right.

Banking Stocks Weekly Report 3rd MAY 2008


BHP Trading Report 3rd MAY 2008


QANTAS trading for next Week.....

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SPI Trading 2nd MAY Recap

SPI Recap 15:50

"SPI is opening above the Spiral channel therefore expectation is that price is pushing upwards which is confirmed by using the Spiral filter....

Moves up 22 points and continues higher (44 points) into the 5-day highs before reversing back down into and R44 low".
....Morning Report

SPI Rallied today into the 5-day highs @ 5727, but at this stage hasn't completed a full 44 point rotation down, maybe after the bell....

SPI Weekly Report out tomorrow

QANTAS 2nd May 2008

QANTAS trading around yearly lows and expectation that Qantas is rotating back towards the fair-value level @ $4.80 in 2008.

This week I posted in the blog (stock Report) that I'm buying @ $3.37 and looking for a move towards the 50% level to partial exit Qantas, and then for further gains higher in this quarter.

My Risk of the trade is to rotate down into the B set-up if it fails, but my overall expectation is that the Yearly lows will support price for 2008 and rotate upwards using a partial exit strategy on the way up..

S&P Daily 1st May 2008

Looking at the set-ups, it favours the same price action as yesterday, rising upwards from support and moving back towards the 5-day highs again..... (premium trader)

US markets moving higher as per Weekly report from MAY, with a 2nd ideal set-up this week using the 5-day pattern support range.....

Full Weekly report tomorrow

SPI Trading 1st MAY 2008 Recap

Morning Report.....

"Expectation that the SPI would consolidate for the rest of April, and then move higher in MAY towards 5870+ is my view.

But it's not necessarily going to happen on the 1st of May:-

When day trading futures it doesn't really matter where the market is going in the bigger picture other than finding areas to make money using 5-day patterns and Spiral points.

But it does matter when trading stocks or position trading the overall market.

Today:- SPI will open once again around support @ 5565 (spiral channel @ 5555)

If the market is going to move higher then these are the levels that I think price will rise up out of and move higher 44 points and into the 5-day 50% @ 5608

Around 5608 is an each way bet once again:- it can reverse down and move into another consolidating trading day..."
SPI 15:50

SPI moves down into support and rises upwards into 5608 and consolidates....
The Stock Report.....

BHP 30th April update and trading


SPI Trading 30th April 2008 Recap

"The last day of the trading month, and this will confirm the May 50% level.

Today the SPI is opening around 5560, and below 5590...

Therefore the two 5-day levels are going to play a support-resistance role today. (Weekly 50% 5558)

C:- opens lower and moves up from 5560 and continues higher :- if trading above 5590 expectation a higher daily close....Morning Report"

SPI 15:40

SPI pushes down into the Weekly 50% level and moves above 5590 closing on it's highs, as it moves towards the 5-day highs @ 5717.

SPI Trading 29th April 2008 recap

"SPI consolidating around the April 50% level @ 5615, and at this stage I have the view that is will continue to do so for the next 2-days." Morning report

SPI recap 15:55

Slow trading day consolidating around the April 50% level @ 5615

SPI Trading 28th April 2008 recap

There has been a lot of resistance around these upper levels for the Past 2 weeks, and today I have the same expectation.

With only 3 days to go before April ends and MAY begins, I would like to see a Weekly timeframe close on it's lows or rotate back towards the MAY 50% level before heading higher over the next few days.

Gap open and expectation that price should hopefully push down into the gap (5650)completing a 44 point range down.

The Risk level for today is going to be 5711, last week's 5-day range high.

My only view for Monday is to close the gap @ 5650, after that the market has a random outcome....and it can continue to drift back down towards 5615 (April 50%) once again. (Higher Weekly open and 2-day reversal)"

Morning Report
SPI Recap 15:30

SPI opens higher and tops out @ 5710 and drifts down into the April 50% level @ 5615

Banks 28th April 2008

NAB partial exit $30.70 holding 2nd lot into $33.80