17th MAY 2008 Weekly Reports

Weekly Index, Stocks, Forex Report out now...





For daily trading set-ups and high probability 5-day patterns subscribe to the the Trader Premium


All information is owned and copyrighted by Frank Dilernia and cannot be reproduced without consent

SPI Trading 16th MAY Recap

Morning Report....

"Expectation that SPI is moving UP towards 6065...

However the SPI will be opening around the 5-day high @ 5986.

The 5-day high is a valid 'Sell' with the expectation that the downside gap will be filled (44 points).

As we can see in the Daily charts, most of the trading day's this week have been tight 44 point range days, and each higher Daily open is being influence by the US markets continued up move into the Weekly highs.

Today is no different...."

SPI Recap 15:30

SPI continues higher into the 5-day highs, and reverses down from 5986.....

Weekly SPI Report tomorrow....

FOREX AUD/USD 15th MAY 2008 part 2

AS Per AUD report.....


Weekly 50% 'Test' and 'rejection' pattern currently playing out.......

Bearish pattern will see a continuation down below MAY 50% level :- this needs to break to confirm further downward pressure.

Partial exit on 43 pips run stops above highs.....

SPI Trading 15th MAY 2008 Recap

Morning report....

SPI looks to be pushing up into 6065 this week, helped by BHP/RIO.

With the breakout of the Weekly highs then the expectation is that price will often remain above those levels (5861) and continue higher.

However the SPI will open around a higher Spiral point, which once again favours a push down from open.

Yesterday's open pushed down from the Spiral point, but the rest of the day was defined by price trading above the Spiral 'Risk' level, as it continued higher.

Today's higher open, and the risk level will be higher, which favours a push down...

SPI Recap 16:30

SPI sells down on open and swings in 44 point ranges....

QANTAS 15th MAY 2008

Partial exit 3.73 and holding QAN.....(3.37).....

SPI Trading 14th MAY 2008 Recap

SPI 15:30

SPI following the pattern up into MAy's Highs @ 6065 helped by BHP and RIO today...

Early pushed down from the Spiral point 6049, and then continued with a momentum push upwards when BHP and RIO kicked much higher on speculation of China taking a stake in BHP, but mostly on light volume.

SPI continued above 6046 moving up another 44 points before stalling around the higher Spiral point @ 5900..

SPI Trading 13th May 2008 recap

Morning report....."SPI completed the rotation back into 5870, and the expectation is that the SPI is pushing up into 6055.

I'm not expecting the SPI to move as high as 6055 this week, but if US markets continue upwards this week then it could be a case of the SPI opening higher each day.

With today's higher open and higher spiral point the expectation is to push down.

SPI looks to be opening inside the channel, therefore I favour short trading down from 5876 and back and the bias is the continue down into 6835 :- partial exit strategy.

After that down-move the rest of the day has a random outcome on whether it continues back down or reverses upwards into the close.

Because price is trading around the Weekly highs and Quarterly 50% level @ 5870, I'm going to focus more on the 'short' side of things today and take the money and run....

SPI 15:15

SPI sells down from higher open @ 5877 and then moves in a 44 point rotation pattern with a downward bias and consolidating pattern on Tuesday.

SPI Trading 12th MAY recap

SPI 15:20

As per Weekly reports

SPI completing the first rotation into 5870 in MAY, with the next push up into 6055, which could happen this week, or it might take another 5-days to reach that level....

Nice orderly patterns on today's rise..... :)