Index Futures, Forex Reports 27 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/





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DOW (S&P) Trading 26th September 08 recap

"Base building around September's lows, and any new UP trend needs to be verified with the movement above the October 50% level.

Once again simply trade on the side of support and the 5-day 50% level..."

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DOW Daily and 5-day pattern

US markets trading around September lows and with only a few days to go until the end of the month and Quarter, the shift in timeframe Dynamics will finally 'confirm' (or deny) that the lows in 2008 were verified the previous week.


Read the Weekly Report...


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SPI Trading 26th September 2008 recap

"Friday is all about trying to determine which direction the Weekly close will go :- towards the Weekly highs or a lower.

If price had moved into the 5-day 50% level this week I would say higher.

But it hasn't, and the 5-day 50% level now matches the breakout of the 5-day high @ 4965...."

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SPI daily and 5-day pattern.


SPI sell down into the 5 day 50% level @ 4965 and then a continuation down into the next level @ 4890.


Ths price action today was not unexpected, as it was something I was looking for to happen all week, at least test the Weekly 50% level before any UP trend could continue.





Spiral filter:- simply trade on the side of the filter, and short-covering back up into the 5-day 50% level @ 4965 was confirmed with a bounce off 4890, along with a crossover of the filter at the same price.
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    S&P (e-mini) DOW 25th Sept 08 Recap

    "There's not much more I can say than what I've already said in the past few days.

    Trade on the side of support, & 50% level resistance."

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    S&P Daily and 5-day pattern

    US markets rise up from support into the 50% level, which forms resistance.

    US markets are forming a support based above the September lows, and any new UP trend needs to be verified with the movement above the October 50% level.

    So I'm expecting more sideways price action until the end of this month.

    Posted by

    SPI Trading 25th September 2008 recap

    "Because the SPI hasn't come down and re-tested the 5-day 50% level and or the Weekly 50% level, as part of a 2-day stall pattern, that still hangs over the market.

    I still believe that the SPI needs to come down before it can continue higher...

    A down move is normally helped by price pushing down from a 5-day high or previous 5-day high, but the 5-day high is much lower @ 4963.

    Once again I'll probably spend more time trying to 'short' the market when certain spiral patterns match the filters:- 4963 support"

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    SPI Daily and 5-day pattern

    Daily bias to drift lower today into the 5-day high @ 4963...


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    S&P (e-mini) DOW 24th Sept 08 Recap

    "Any continuation upwards this week would need to see a 'hook' bar over the Weekly 50% level, and a 2-day pullback into the September lows.

    Once again it's all about support and my view of market rising upwards"

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    S&P Daily and 5-day pattern

    Volatility has dropped since the banning of short selling, and US markets continue to drift into support each day, but not doing much thereafter...

    US markets still trading around September lows....



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    SPI Trading 24th September 2008 recap

    SPI Weekly and Daily

    SPI continuing back towards September 50% level, lead by financial stocks.

    Ideal trading pattern this week:- 2-day stall into the Weekly 50% level before continuing higher on the 3rd day hasn't played out so far this week.


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    DOW S&P Trading 23rd September 08

    "And even though price is trading below the Weekly 50% level, the price action over the past 2 days suggests the US markets are moving higher on Tuesday.

    Trade on the side of support"

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    S&P Daily 5-day pattern

    US markets drifting lower, as part of a 2-day pullback within the past 3-day range.

    I was looking for buying support off Tuesday's support, but wasn't expecting too much upside because of the Weekly 50% level.

    Early support but then a late push down on Tuesday, as part of a 2-day pullback.

    2-day pullback has now aligned with September's lows.....



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    • Posted by

    SPI Trading 23rd September 2008 recap

    "Above the 5-day high @ 4963 and expectation is that price was following SET-UP A from the Weekly report, but I wanted the SPI to come back and test 4963.

    Today we are trading back below the 5-day high, and more than likely move down and test the 50% levels @ 4884 (random support)

    Often a breakout of the 3-day cycle will move back into a 2-day stalling period before the trend continues from the 3rd day" (Thursday)

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    SPI Daily and 5-day pattern

    SPI opened around the 5-day high @ 4963 pushing price down on open 44 points.

    But I was expecting more of a pullback into the 5-day 50% level @ 4884, based on a 2-day stalling pattern.

    Once back above 4963 market bias was to continue higher, as it follows the price pattern of SET_UP A

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    • Posted by

    S&P (e-mini) DOW 22th Sept 08 Recap

    "Monday:- Simply trade on the side of support and look for a move towards the 5-day highs.

    If trading below support on Monday the only conclusion I make is.... price it going back down to re-test the support level from Friday, which didn't play out"

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    S&P Daily and 5-day pattern

    Monday was simply trading on the side of support.

    Expectation that a test of support on Monday would either send the market back towards the 5-day highs, or if below would play out a move back to Friday's support level, which didn't test.

    It's obvious price didn't move down as far as Friday's support level on Monday, but it's still part of the 2-day pullback.

    Keep in mind that I've modelled the lows of the market were set last Thursday, and that over the next couple of weeks a support base should develop until October.

    Any continuation upwards will be verified next month.

    Posted by

    SPI Trading 22nd September 2008 recap

    Premium Morning Report:-

    "For the rest of this month we need to keep in mind that the SPI will try and follow those two set-ups as described in the Weekly report.

    With the amount of market manipulation going on by the US fed and the banning of 'short' selling, a move back towards the September 50% level (SET-UP A) is a high possibility.

    As mentioned on Friday:- A move above 4772 and the expectation is that price will be moving back towards the 5-day highs.

    Today:- It's all about the 5-day highs @4963:- Above 4963 and shorting is open to risk, as it's following SET_UP A."





    SPI Weekly and 5-day pattern 15:50

    As pointed out last Week:- Yearly lows have been set and with today's open above the 5-day highs @ 4963, the expectation is for the Weekly timeframe to move back towards the September 50% level.

    Ideally I would like to see the SPI come back down and re-test the 5-day break @ 4963 tomorrow, before it continues higher.


    Posted by

    Index Futures, Forex Reports 20 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/




    • Daily Trading Set-ups & Analysis
  • Index Futures SPI, DOW S&P, & Forex
  • Subscribe to the Trader Premium
  • http://www.datafeeds.com.au/premiumtrader.html



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