Weekly Reports 14th June 2008

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    • Posted by

    S&P (e-mini) 13th June 2008 Recap


    "Yesterday's view was to push lower and then get some short-covering off the lows.

    If Thursday pushed down into support on Thursday and bounced, then I would say that Friday would continue higher and use Friday's support to trade up towards the 5-day highs.

    Therefore I favour a push down into the 5-day lows (if below support), which actually could move down as far as Thursday's support zones.

    At this stage treat the US markets on the side of support, whilst it's above then it could go higher (towards 5-day highs)"

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    S&P Daily and 5-day pattern


    As the chart on the right shows, both the DOW and S&P rise up from support and head back towards the 5-day highs....

    And with Contract expiry next week, I would look for a continuation upwards next week depending on price action around the June 50% level next Week's 50% level.

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    • Posted by

    SPI Trading 13th June 2008 Recap

    "SPI is opening at a higher Spiral point so it's going to be hard to trade Longs on open.

    Looking at yesterday's price action I do favour a continuation down, and today is going to be simply defined by 5387.

    Best Idea on today's direction is once the first 21 points of the day completes..."

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    SPI Recap 16:00

    SPI moved up 21 points and reversed down from 5387, completing the primary Range of 87 points down, before once again buyers came into the market around the lows.

    This price action was similar to Wednesday's price action, and rising up from the Spiral filter (5303) into the close



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    • Posted by

    S&P (e-mini) 12th June 2008 Recap

    "Whenever the market breaks support in one day it often moves down into support the next day, in this case down into the Yellow levels in both markets

    If this is the case, and depending on what time it occurs (if it occurs) I would look for a some late short covering around those lows, but nothing to get too excited about other than some short covering of yesterday's down move."

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    S&P Daily and 5-day pattern


    Looking for further weakness on Thursday with some late short covering around the lows, but I would have liked a push down into the 5-day lows once again before short covering came in.

    Instead the S&P remained in a tight trading range, with late short-covering coming off the channel lows.



    Posted by

    SPI Trading 12th June Recap

    This week the market broke the 3-week lows (5548) and June's 50% level, and with the expectation the Prices would remain below those levels this week.

    The price action on the break of the 3-Week lows has a random outcome on how far it will travel, but the price action that I would be looking for will be how price reacts with next Months 50% ....A move down into 5100 and into June's lows is not out of the question

    This Week's break of Monday's 5-day lows @ 5485 has sent the market down, and today will be opening lower due to US markets selling off on Wednesday....

    Preferably I would have liked to have trade the down move in the day session, but that's not the case.

    Today:- support 5-day lows 5345

    opens lower and moves down into the 5-day lows (expected support level)

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    SPI 16:15 Recap

    SPI opens lower and heads down into the 5-day lows, which I would have liked more upside movement than what occurred.

    Depending on US markets, but any more weakness this week and the expected move is to follow the 5-day pattern lower.


    Posted by

    DOW S&P 11th June 2008 Recap

    "Price broke out of the 3-week lows last Week, which often suggests that price will continue downwards into next week's lows.

    After two trading days, traders now begin to look for rejection patterns and a continuation down....

    Whilst price is trading above support the expectation remains a move towards the 5-day 50% level, but this time any failure around those levels then look for a break of support and a move down into the 5-day lows again."

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    DOW Daily and 5-day Recap

    After two days of consolidation (Monday & Tuesday) price continued down into the 5-day lows with a break of support on Wednesday


    Posted by

    SPI Trading 11th June 2008 Recap

    "Normally a break of the 5-day low will continue down in the next day, however this normally occurs from the 5-day lows in the previous day:- that basically means that a higher probability continuation down should continue down from 5485 the next day.

    However, the SPI is opening much lower and not near the 5-day lows....

    Therefore i'm treating today as an UP day, and for price to move back towards yesterday's break...

    The pattern i'm looking for is a move down into the Spiral lows around 5399, and then use the Spiral filter on Wednesday to trade upwards..."

    Morning Report

    SPI Daily and 5-day pattern

    SPI opened higher than expected and pushed down into a low of 5403 then reversing back up towards yesterday's break of the 5-day low @ 5485, as part of the expected UP day on Wednesday.

    Spiral filter was 5406


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    • Posted by

    DOW S&P 10th June 2008 Recap

    "Last Week broke the Weekly lows, and both markets are trading below June's 50% level, which is a bearish pattern.

    However, I also mentioned in the Weekly report that I expect a push lower on Monday but then look for some sign of a counter-trend move upward as it nears the expiry date next week.

    Yesterday found support but was trading below the blue channel capping the market..

    On Tuesday there is a switch from above to below on the blue channels, which favours a continution up on Tuesday"

    Morning Report...

    DOW Daily and 5-day pattern

    Another consolidating trading day below June's 50% level, rising up from support and stalling at the 5-day 50% level

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    • Posted by

    SPI Trading 10th June 2008 RECAP

    "Opens below the 5-day lows, then expectation price will remain outside that level and rotate around in 44 point waves for most of the day:- resistance 5485

    Going long below 5485 around a 44 spiral low is a trade but position size should be lowered.

    If opens above 5-day lows @ 5485, then expectation price is pushing back towards the previous 5-day lows @ 5528-31 (resistance)

    Note: Keep in mind that price is opening outside the Spiral channel which often pushes prices down 21-23 points before any buying support comes in."

    Morning Report





    SPI 15:45 RECAP

    Market did open above 5485 and pushed down 23 points, but failed to rise up from the 5-day support.

    The rest of the day consolidated below the 5-day lows but remained in a tight consolidating pattern around the 44 Spiral low:-

    Posted by

    FOREX Reports 10th June 2008

    AUD/USD, EUR/USD, GBP/USD Updates

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    Posted by

    S&P (e-mini) 9th June 2008 Recap

    "We have now completed a 10 day consolidating pattern, the following week future contracts in June come into expiry,which often pushes prices up towards the expiry date.

    I would look for a push down on Monday towards the 5-day lows and then look for a rotation back upwards later in the week and into next week's expiry. June expiry."

    Weekly Report

    S&P Daily and 5-day pattern... (RECAP)

    Expectation that the S&P would push down on Monday into the 5-day lows and find support.....




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