Index Futures, Forex Reports 30 August 08

Weekly Index & Forex Reports out now...

Australian Index (SPI) Futures

DOW and S&P Index Futures


Note: Weekly BHP and Banking Reports Update

  • Daily Trading Set-ups & Analysis
  • Index Futures SPI, DOW S&P, & Forex
  • Subscribe to the Trader Premium

  • S&P (e-mini) DOW 29th August 2008 Recap

    Morning Report...

    "Even though US markets have traded below the August 50% level, it's actually been supported by it's August balance point over the past 4 weeks.

    A higher close on Friday and that balance point will shift higher:- which could result in another spring board upwards in September......

    Or price can easily be below that balance level next week if there is a 2-day 'sell' pattern from a higher Weekly open.

    Price looks to be heading towards the 5-day highs on Friday, as part of a 2-day extension from yesterday's rally....

    5-day highs random resistance, and support as shown"

    S&P Daily...

    August 50% levels resistance and more rotation on Friday back down into support.

    Once below Thursday's 5-day high, the usual rotation down into support to close out the Month right on September's balance point.

    SPI TRading 29th August 2008 recap

    Morning report....

    "US markets rally and the SPI could end up back to the August 50% level @ 5233 by Saturday am (sycom close).

    Today:- 5-day highs resistance 5145-55

    Ideal pattern is for price to come down and close the gap from yesterday's 5-day high @ 5095. (44 points).

    Today:- After that closure price could reverse back upwards and continue higher into the 5-day highs.

    Note:- 5-day highs (5145-55) are resistance, which means price could remain below these highs all day and reach 5233 based on Sycom moving higher because US markets continue higher.

    If there is a 2.50pm rally on Friday breaking the 5-day highs, then the expectation is price is moving back towards the August 50% levels on the last day of the Week & Month :- higher Friday close.

    Basically don't short trade above 5155...

    Random support 5095 Thursday's highs.."

    SPI Daily and 5-day pattern

    SPI played out precisely today, but I would have preferred a breakout above 5155 after 2.50pm today, as more buyers would have piled in, and more short covering into the close.

    Higher open down into 5095 and reversal back up into the 5-day highs, with the potential of reaching 5233 overnight if US markets continue higher on Friday.

    Weekly report tomorrow

    • Daily Trading Set-ups & Analysis
  • Index Futures SPI, DOW S&P, & Forex
  • Subscribe to the Trader Premium

  • S&P (e-mini) DOW 28th August 08 Recap

    "US markets moved higher on Wednesday stalling at the Weekly 50%...

    No 'hook' pattern on Wednesday so I don't have a view of higher prices...

    Therefore there is no probability pattern.

    At this stage I don't have a view on direction on Thursday other than trading the levels"

    Morning report

    S&P Daily

    Wednesday's up move from support and stall below the Weekly 50% level didn't provide a 'hook' pattern, so there was no view on Thursday's direction.

    It was simply trading on the side of the levels, and once above the Weekly 50% level price moved back towards the 5-day highs once again.

    SPI Trading 28th August 2008 recap

    "Bounce off the 5-day 50% level yesterday can see the SPI travel towards the 5-day highs...

    However a higher open and expectation is that price will close the 'gap' @ 5021 (previous 44 high)

    If it's going to continue higher then it might find support at this level and push higher another 44 points"

    Morning report

    SPI Recap 16:30

    SPI opened lower than expected, but the same pattern of rising up from 5021 and another 44 points played out hitting the Weekly highs.

    • Daily Trading Set-ups & Analysis

  • Index Futures SPI, DOW S&P, & Forex

  • Subscribe to the Trader Premium


  • S&P (e-mini) DOW 27th August 08 Recap

    Morning Report....

    "Trading below the Weekly 50% level, which could see a swing back to re-test the same level on Wednesday...

    Yesterday's view was for a continuation down:- short the 5-day 50% level.

    However Tuesday didn't complete the 5-day low pattern, and on Wednesday US markets are in a similar position as last Friday....

    Rising up from support and back into the Weekly 50% level..."

    S&P Daily and 5-day pattern

    More sideways price action in August and the usual 2-day swing patterns within the Weekly timeframe.

    No probability pattern for Thursday..

    SPI Trading 27th August 2008 recap

    "Basically the first R44 needs to complete to define today's direction.

    Because it's occurring from a higher spiral point I favour a down move into 4962...

    The completion down into 4962 should... A bullish day will complete the move down and then rise higher and continue upwards....."

    Morning report

    SPI Daily and 5-day pattern

    Higher open and reversal back into support, and then a continuation higher into the close.

    S&P (e-mini) DOW 26 August 2008 Recap

    "Break of Weekly 50% level on Monday and heading down into Tuesday's lows

    Ideal set-up is a rejection pattern down from the 50% level and into Tueday's lows.... Support Tuesday's 5-day lows"

    Morning Report

    S&P Daily

    S&P and US markets moved back into the 50% level, with sellers appearing but not driving Price down into Tuesday's lows.

    2-day swing traders From Monday's break would exit, which sets up an interesting Wednesday.

    A break of Wednesday's support would see trend continue lower this week towards the Weekly lows.

    • Daily Trading Set-ups & Analysis
  • Index Futures SPI, DOW S&P, & Forex
  • Subscribe to the Trader Premium

  • SPI Trading 26th August 2008 recap

    Ideal pattern for a continuation down would be:- a move back into the 5-day 50% level and then reverse down using a R44 spiral top @ 4944-55.

    4884 random support

    Support and swing back towards the 5-day 50% levels.... (44 points)

    Morning Report

    SPI Daily

    SPI opened lower and moved back from support into the 5-day 50% level..

    Expected resistance and reversal back down didn't pan out, and continued higher into the close...

    • Daily Trading Set-ups & Analysis
  • Index Futures SPI, DOW S&P, & Forex
  • Subscribe to the Trader Premium

  • S&P (e-mini) DOW 25th August 2008 Recap

    "As per Weekly Report I'm bearish on markets with the expectation of lower prices.

    What's the first sign of a reversal pattern at the start of the Week?

    Price trading below the Yellow channels on Monday with the expectation of a lower daily close on Monday followed by another lower daily close on Tuesday (random length)"

    Monday's Premium Report

    S&P Daily and 5-day pattern

    2-day down move confirmed with a break of support on Monday, and 4th week sell pattern playing out.

    Expectation of lower prices by Tuesday, along with trading below the Weekly 50% level (resistance)

    Let's see how US markets act after Tuesday's trading.

    SPI Trading 25th August 2008 recap

    "Gap open and support at the 50% levels:-

    Support 4935, but ideally for any UP trend to continue price would complete the 44 point range down and then continue higher:- re-test the 3-day breakout (4935) and then continue higher....

    4965 is the level of interest today, which should provide traders with the level of trading back down into the gap and 50% levels...

    Above 4965 and shorting is open to Risk... 3-day breakout"

    Morning Report

    SPI 16:25 Recap

    SPI opens @ 4965 and takes off back towards the 5-day highs.

    Once around those highs and after completing it's 44 point range, market slowed right down and consolidated for most of today.