SPI Trading 6th June 2008 Recap

Morning Report....

"Simply define the market with today's higher channel @ 5622.

a normal pattern would be to move down into an R44 low, or view support around the blue channel @ 5579"
SPI Recap:-

SPI opened higher and rotated back down into 5579 to close out the day on it's lows on Friday....
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DOW S&P 7th June 2008

"US markets reversed upwards into the Weekly 50% level, and my view on Friday is that price will probably be capped around the 5-day highs....

Friday:- I would look for prices to come back down and re-test the 5-day 50% levels "

Morning Report....


S&P Daily and 5-day pattern.

US markets reversed down on Friday from the 5-day highs, and moved much further than expected on Friday, but not unexpected because of the view of weaker prices in June. (Change of Weekly cycle)



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    • Posted by

    SPI Trading 5th June 2008 Recap

    Morning Report...


    "Yesterday I also mentioned that in a downward weekly pattern there is a possibility of 1 UP day. that 1 UP day occurred yesterday.

    A bearish pattern is a continuation down the next day.....

    Market is back around support and trading around the Risk filter:- therefore the rest of today is defined by the Risk filter and support levels as shown...

    Basically:- below 5583 and the bias is the continue down (trading below monthly 50% level and 5-day lows of the previous day."

    SPI Recap...

    Thursday continued the pattern of a weekly trend down with price tradinh below 5583 and following the 5-day pattern into the 5-day lows @ 5528, and once again finding support....



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    • Posted by

    S&P DOW Trading 4th June Recap



    DOW and S&P Daily charts

    Morning Report "Two down days in the early part of the trading week from a higher Weekly open, but at this stage it's too early to tell on whether there is going to be any higher moves on Wednesday using the Weekly lows as support.

    I would use the 5-day lows as support, with the expectation that prices will be capped below the yellow channels on Wednesday."

    S&P Daily and 5-day pattern...

    S&P moved up from the 5-day lows and back into 'Resistance' on Wednesday, reversing back down into the 5-day lows, which was part of the morning report....

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    SPI Trading 4th June 2008 Recap

    Morning Report

    "Yesterday moved higher into the 5-day 50% level and then reversed down into 5588...

    Today the exact same level should be used as support along with the previous 5-day lows @ 5579.

    The market has had two down days in row at the start of the week, and there is always an expectation that there will be 1 day which will be a counter-trend day (UP) in a Weekly down move"....



    SPI Recap 5th June...

    SPI Rallied off the Spiral filter 5587 and back up into the R44 high @ 5635 and reversed down into the 5-day lows @ 5579, which ended up supported for the trading day....

    Yesterday had the 1day up trend,which is currently being supported around the June 50% levels



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    • Posted by

    DOW S&P trading 3rd June 2008 Recap

    Morning Report.....

    As Per Weekly Report:- higher Weekly open and expectation US markets will reversed down towards the June 50% level from the Weekly 50% level, and then verified with a break of support on Monday...

    For Tuesday:- use support levels


    Normally a break of support in the one day will move down into support the next day and then move higher, but not expecting Tuesday to rise higher than the blue lines.

    don't trade longs below support on Tuesday :- bearish pattern break on Tuesday of the red channel lows in both markets.



    S&P Daily and 5-day pattern

    As Per Daily Premium report:- early support on Tuesday moving up into Resistance (blue channel) and then selling down breaking support.....





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    • Posted by

    SPI Trading 3rd June 2008 Recap

    Morning Report:-


    5621 support and look for a move towards the Risk level 5659....

    Then it becomes a random expectation for the rest of today, as it will close the R44 gap from yesterday, and then could reverse back down towards the 5-day lows.

    Don't trade longs below 5621 on open and it's open to risk...

    Note: use the red and blue channel lows from yesterday's recap as a support level for today:- high risk to be trading longs below those levels...


    As below 5628 price is pushing down towards 5588



    SPI Recap:-

    SPI opens lower and moves up towards the 5-day 50% level closing the gap, then the rest of the day followed the move lower towards 5588 and support on Tuesday...


    Posted by

    SPI Trading 2nd June 2008 Recap

    Morning Report....

    SPI is in a 3-day Sell cycle, and with the expectation that price is pushing down towards June 50% level before any UP move is going to play out.

    The 44 point range needs to complete from Friday's range before Monday begins, therefore the critical level is going to be 5720....

    Note: A higher spiral open and a higher Channel normally favours selling the open down"



    SPI 15:30 Recap

    SPI sold down from open and followed the 5-day pattern lower towards June's 50% level.

    Once channel lows were reached market went it a consolidating reversal pattern...

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