Index Futures, Forex Reports 13 SEPT 08


Weekly Index & Forex Reports out now...


Australian Index (SPI) Futures

http://austindex.blogspot.com/

DOW and S&P Index Futures

http://usindexweekly.blogspot.com/


EUR/USD, AUD/USD. GBP/USD

http://www.forexspread.blogspot.com/


Note: Weekly BHP and Banking Reports Update

http://aussie-stocks.blogspot.com/




Posted by

SPI Trading 12th September 2008 recap

"Resistance as shown above....4901- 4915 (5-day 50%)

"Because price will be above the brown filter on open, the only weakness that I see is a rotation down towards the brown filter @ 4846, therefore I haven't factored in more weakness today.

Keep in mind that buying support often comes in after 2:50pm, which could see prices push above the 5-day 50% level @ 4915 towards 4946

By looking at the price action it wouldn't surprise me to see an inside day"

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SPI Daily and 5-day pattern 16:15

higher open on Friday pushing down from 4901 and down into the primary target of 4846 in early trading.

A double R44 low formed and short-covering in the market after 14:50 sending price back towards the 5-day 50% level @ 4915...

And an inside day....

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    • Posted by

    S&P (e-mini) DOW 11th Sept 08 Recap

    "US markets pushing down towards the Weekly lows.....

    Yesterday's view:- the 5-day 50% levels would resist price, but I thought a bit
    more selling down into support zones was going to play out.

    Thursday:- Simply trade on the side of the Yellow level

    Below and price continues down into the5-day lows."

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    S&P Daily and 5-day pattern

    Thursday:- Early selling pressure into the 5-day lows, and once price was back above the Yellow filter, buyers pushed the market higher into close....




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    • Posted by

    SPI Trading 11th September 2008 recap

    "Last 44 point range needs to complete before we move into Thursday's trading.

    Trend guide will then be 4896 (blue channel):- Below and it should be pushing down another 44 points..."

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    SPI Recap 16:30

    SPI sell off on open, pushing down from yesterday's spiral top and below the support of 4896.....

    Rest of the day followed the break of support down.


    Posted by

    S&P (e-mini) DOW 10th Sept 08 Recap

    "Based on the price action over the past 2 days, probability pattern doesn't favour an UP day because of yesterday's break of support, which usually moves down into next day's support:-

    2-day pattern extension:- 5-day 50% level resistance."

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    S&P Daily

    5-day 50% level resistance, but didn't extend down into support.....

    Posted by

    SPI Trading 10th September 2008 recap

    Premium Report:-

    "4852 is the trend guide today....above 4852 then the expectation is double R44 range upwards.

    It's a lower open therefore it's hard to short on open, as price likes to rotate towards the gaps.

    But often a 'gap-open' moves away 21 points before reversing, in this case down"

    SPI 5-day pattern and intra-day spirals

    SPI opened above 4852 and moved into double lower R21 rejection patterns off support, confirming the move up into the Primary range of the SPI :- 87 points


    Posted by

    S&P (e-mini) DOW 9th Sept 08 Recap

    "Expectation yesterday that price would push down from the September 50% levels back into Support...

    Support levels were verified within the 5-day pattern support levels (Yellow).

    Tuesday:- Below support and it's down towards the 5-day lows again...."

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    S&P Weekly 5-day pattern

    Above tells the story, with September's 50% levels pushing US markets down confirmed with a break support and down into the 5-day lows.




    Posted by

    SPI Trading 9th September 2008 recap

    "Today: - 'Open Trading' therefore the last 44 point range needs to complete, and because it's coming down from the spiral top, the bias is to complete @ 5049....

    Pink filter @ 5072, the bias is to move into 5049.

    Need to keep in mind that price could also be trying to move back into the 5-day 50% level:- 5010.

    Therefore:- if price has moved down into 5049 and swings up 20-23 points, then the filters could push price down towards 5010.

    Below 5010 price is coming down to re-test the Weekly 50% level and 5-day 50% level from yesterday @ 4960..

    As you can see I'm not having too much faith in another UP day"

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    SPI Daily and 5-day pattern

    Today went pretty much to script. The high was 4973, which aligned with the spiral filter push down from 4972 and down into the 5-day 50% levels...

    The only bad part of today's trading was that, there wasn't as much intra-day rotation occuring, so if you got out of the daily trend on profits, it was hard to get back into the trend on each 44 point range completion.

    Posted by

    S&P (e-mini) DOW 8th Sept 08 Recap

    "In the Weekly report my expectation were that US markets would come back and re-test the September 50% levels and then continue down in the 3rd week after expiry.

    "Today US futures gaped UP 200 points, and they are now at the Monthly 50% levels, much quicker than expected. There is major resistance based on the monthly 50% levels but it's a bit early to be continuing down.

    As a Trader I would have to define the market either side of those Monthly 50% levels, as shown in the Weekly charts, and then the support levels within the 5-day pattern."

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

    Both the S&P and DOW pushed lower from their September 50% levels on Monday and down into support, attracting buyers off the lows....

    Now it's a waiting game to see which levels break :- breaks Support on Tuesday verifies September 50% levels as resistance...



    Or.....



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    • Posted by

    SPI Trading 8th September 2008 recap

    "Friday verified the Weekly cycle lows @ 4830 closing above. (Support), as per Weekly Report.

    Friday's Last R44 bar closes above the 5-day lows @ 4889 forming a 'hook' bar with today's higher open.

    The only conclusion I can make is:- price is rotating UP towards the 50% levels.

    After this morning's report posted on the SPI:- DOW and S&P Futures are UP 200+ points.

    Therefore the SPI will open much higher than expected..."

    Morning Report


    SPI Daily and 5-day pattern

    My entire morning report was thrown out the door because US futures gaped up over 200points, which sent our market much higher.

    Once above the Weekly 50% level it moved into a trending day, with some ideal spiral patterns...

    Spiral Filter ....

    3 winners and 1 loss using the spiral points and the spiral filter....

    And my losing 'short' trade, (2nd trade) was pre-empting a reversal without the filter, which cost me.

    Rest of today worked out pretty well....

    Interesting night in US markets on Monday.....


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