Weekly Index Reports 10th MAY 2008
Australian and US Index Markets: - DOW and S&P
Please click Weekly reports to the Right.
Banking Stocks Weekly Report 10th MAY 2008
http://aussie-stocks.blogspot.com/search?q=banking
BHP Trading Report 10th MAY 2008
http://aussie-stocks.blogspot.com/search?q=BHP
QANTAS trading for next Week.....
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SPI Trading 9th MAY 2008 Recap
Precise action using the Dilernia Model this week :- from the early highs this week, back into the Weekly 50% level, and then the continuation up into the 5-day high pattern @ 5835 , and then a reversal down late in the day.....SPI Weekly Report Tomorrow
NAB 9th MAY 2008
NAB Daily chartsExpectation NAB is on it's way to 33.90....
Last week partial exit NAB @ 30.70 from $27.85
As per last Weekly Report:- ReBUY NAB @ $30.50 on any pullback, and partial exit today @ 32.55, leaving open rest into $33.90
BHP:- bummer on BHP because the MAY 50% level was my next BUY zone to re-enter BHP before it gets to $47.00, as part of the Quarterly UPswing.
Once BHP hits $47.00 in this Quarter, I won't trade LONGS on BHP until the next Quarter from June onwards. (Chart Below)
SPI Trading 8th May 2008 recap
Morning Report....
SPI has reversed down from the Weekly highs and back into the MAY 50% level with today's lower open.
Last Week the SPI rallied from the 1st of MAY to the weekly highs, however the Weekly timeframe 'bar' was still trading within the April timeframe and hasn't tested the MAY 50% level.
Therefore this week's rotation back down into the MAY 50% level is not suprising.
Therefore:- I'm expecting support and a push higher today, but i'm not expecting much strength above today's 5-day 50% level @ 5650-67"..
A higher open on Friday will depend on US market's reaction to their own Weekly 50% levels.
SPI has reversed down from the Weekly highs and back into the MAY 50% level with today's lower open.
Last Week the SPI rallied from the 1st of MAY to the weekly highs, however the Weekly timeframe 'bar' was still trading within the April timeframe and hasn't tested the MAY 50% level.
Therefore this week's rotation back down into the MAY 50% level is not suprising.
Therefore:- I'm expecting support and a push higher today, but i'm not expecting much strength above today's 5-day 50% level @ 5650-67"..
SPI 15:10
Weekly timeframe tested supported this Week and expectation that prices will continue higher into 5870+....
I expected some buying support today, but I didn't expect a large trending day as such, but i'm not complaining....
A higher open on Friday will depend on US market's reaction to their own Weekly 50% levels.
BHP 8th MAY 2008
BHP:- Weekly Dilernia Drops this week favours a rotation back down into the MAY 50% level.....If BHP is going to continue higher, then I would look for a lower Weekly close and support around the 50% level this week, and then rise Upwards from a lower Weekly open next week, as long as price remains above the 50% level
QANTAS 7th May 2008
Last Week I bought QAN @ 3.37, and everything was looking good for a couple of days.
My partial exit strategy was to exit at the Weekly highs @ 3.73 and run an open position into the Quarterly 50% levels @ 3.87
I factored two bullish scenarios since my BUY....
A:- push up into @ 3.73, exit 50% position, and then re-buy the same 50% position at the Weekly 50% level @ 3.53 and hold for a move higher.(5-10 days time)
B:- price was going to move down into the Weekly 50% level @ 3.53 early this week, and then bounce up into 3.73 and continue upwards in 10 days time.
However Wednesday hasn't been able to remain above 3.53 and the Weekly 50% level.
Even though I'm still in the money on today's close @3.42, the price action of breaking the Weekly 50% level isn't a good sign.
Therefore strategy has changed to 50% exit my longs on stop @ 3.32 -5 cents (below last weeks lows) and hold an open position on remaining.
SPI This week has pushed up into the Weekly highs and now reversing back down towards the MAY 50% level, as per Weekly report.
US markets are forming 'Dilernia Drops' in the forward Weekly timeframes, which suggests a lower Weekly close by Friday, and probably follow the Weekly Report of a rotation back into the May 50% levels (Weekly report).
This normally occurs on either Thursday or Friday, which gives me another reason to run stops on Qantas, and look to re-enter later.
SPI Trading 7th May 2008 Recap
Morning report...
"I would focus on shorting looking for the down move, and the rest of the day can pan out how it wants, and it wouldn't surprise me to see a down day into a lower daily close on Wednesday.....Wednesday can continue down and fill the move in sycom:- 5-day 50% level @ 5695"
"I would focus on shorting looking for the down move, and the rest of the day can pan out how it wants, and it wouldn't surprise me to see a down day into a lower daily close on Wednesday.....Wednesday can continue down and fill the move in sycom:- 5-day 50% level @ 5695"
SPI Recap 15:30
Higher open on Wednesday, moved down into Sycom lows and closing around the 5-day 50% ...level @ 5690
SPI Trading 6th May 2008 Recap
Morning report....
SPI has reversed down from Weekly highs, but yesterday price remained trading above the 5-day high @ 5727.
Today is simply defined by the 5-day high @ 5727.....
A higher Weekly open and expectation that there is a high probability of a 2-day reversal, and if its' going to continue down today as part of the 2nd day, then it will continue down below 5727 and move down towards the 5-day 50% level
A down day has a random length, it can move towards 5674....
Because the price action is happening at the start of the week and from a higher weekly open, then I favour a continuation down into the 5-day 50% levels, but I won't fight the trend above 5727..."
SPI Recap:-
SPI opened below 5727 and pushed down into an R44 low, finding support and then consolidating for most of the trading day, as part of the 2-day stall-reversal pattern.
A bit disappointing today, because the previous higher Weekly opens have provided nice 2nd day reversal patterns back into the 5-day 50% levels on every occassion this year....
SPI has reversed down from Weekly highs, but yesterday price remained trading above the 5-day high @ 5727.
Today is simply defined by the 5-day high @ 5727.....
A higher Weekly open and expectation that there is a high probability of a 2-day reversal, and if its' going to continue down today as part of the 2nd day, then it will continue down below 5727 and move down towards the 5-day 50% level
A down day has a random length, it can move towards 5674....
Because the price action is happening at the start of the week and from a higher weekly open, then I favour a continuation down into the 5-day 50% levels, but I won't fight the trend above 5727..."
SPI Recap:-
SPI opened below 5727 and pushed down into an R44 low, finding support and then consolidating for most of the trading day, as part of the 2-day stall-reversal pattern.
A bit disappointing today, because the previous higher Weekly opens have provided nice 2nd day reversal patterns back into the 5-day 50% levels on every occassion this year....
SPI 5th MAY 2008 Recap
SPI 15:45 RecapExpectation that SPI would push up into the Weekly highs this week and then reverse back down 2-3 days, but that reversal pattern will be dependant on US markets, because the overall view in MAY is to move higher towards 5870+ ..... (as per Weekly report)
Morning report..... "Whilst price is trading above Friday's high @ 5727, then I don't expect too much weakness below that level today.
A Set-up:- push down into an R44 low before rotating UP.... Basically the market is going higher , but not necessarily from a higher open today..."
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