Index Futures, Forex Reports 13 SEPT 08

Weekly Index & Forex Reports out now...

Australian Index (SPI) Futures

DOW and S&P Index Futures


Note: Weekly BHP and Banking Reports Update

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"

Premium Report

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....

  • Daily Trading Set-ups & Analysis

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

  • Subscribe to the Trader Premium


  • 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."

    Premium report

    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....

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

  • 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..."

    Premium Report

    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.

    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."

    Premium report

    S&P Daily

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

    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

    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...."

    Premium Report

    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.

    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"

    Premium report

    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.

    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."

    Premium Report

    .......................... 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...


    • Daily Trading Set-ups & Analysis

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

  • Subscribe to the Trader Premium


  • 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.....

    • Daily Trading Set-ups & Analysis

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

  • Subscribe to the Trader Premium