Index Futures, Forex Reports 25th Oct 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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    • Posted by

    S&P (e-mini) DOW 24th Ocotber 08 recap

    "Are US markets going to follow a similar path to the Australian (Asian) Markets and continue down into the Weekly lows after the Weekly 50% level rejection?

    At this stage Yes.....

    Below blue channels and it's down into Friday's lows"

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    S&P Daily and 5-day pattern

    Levels broke early on Friday and continued down into Friday's lows remaining range bound between support and resistance.




    Posted by

    SPI 24th October 2008 recap

    Monday 20th October:- " SPI trading below October lows and expectation price will remain below these lows for the rest of this month.

    Lower Weekly open therefore there is an expectation that price will rotate back towards the Weekly 50% level.

    That could occur in the first 2-3 days, and then the possibility of continuing down towards the Weekly lows"


    SPI Daily and the 5-day pattern

    This week the SPI played out the rejection pattern from the Weekly 50% level and down into the lows.

    It started with the rally on open into 4051 and then the reversal down into 3921.

    What was support yesterday @ 3980 shifted lower.

    3921 did support the market briefly today, but once it broke support, price was heading down into the 5-day lows.

    Weekly report tomorrow




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    • Posted by

    DOW S&P Daily 23rd October 2008 recap

    "Whilst price is trading below October lows then my view is that price will remain within the 5-day channels and rotate until the end of the Month.

    Ideal pattern would be to see the 5-day 50% level push down into Support, and then see a short-covering UP move towards the blue channel"

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    DOW Daily and 5-day pattern

    US markets pushed down early on Thursday from the 5-day 50% level into Support, and then a short-covering move late pushing prices upwards.

    Didn't reach the blue channel, but went very close.




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    • Posted by

    SPI Trading 23rd October 2008 recap

    "This week we had a 2-day rotation back into the Weekly 50% level.

    A rejection pattern down, and on Thursday we are trading around the 3-day lows once again.
    SUPPORT 3980 RESISTANCE 4085


    1. A reversal into the 3-day lows can continue higher (3980), which means a 2-day UP move into Friday.

    This is because price has retested the 3-day lows and has verified last Week's support.

    Even though 4085 is a random resistance zone today, it would not surprise me to see even further buying into the close after 3pm back into the 5-day 50% level (4165)"

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    SPI DAILY AND THE 5-DAY PATTERN

    3980 held and short covering into the close.

    Price didn't get as high as 4085 but could easily open that high tomorrow or around 4165.

    Depending on US markets on Thursday:- below 3980 and it's heading down towards the Weekly lows.

    Keep in mind that price is trading below October lows and the bias is to continue down.

    At this stage price still continues to rotate within the 5-day pattern until the end of October, which is ideal for swing trading.


    Posted by

    DOW (S&P) Trading 22nd October 08 Recap

    "Yesterday price was pushed down from the Weekly 50% level.

    A break of support on Tuesday moves down into Wednesday's support:- 2 day pattern

    Wednesday's support can often provide a spring board back towards the highs:- This is especially robust when price is in a bull trend or trading above the Monthly balance point.

    Today, it's not trading above any of those levels, therefore the support is random.

    And break of blue channels and bias is to continue down into the 5-day lows, as part of the Weekly rejection pattern"

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    DOW Daily and 5-day pattern


    US markets have followed the Weekly 50% level rejection pattern, breaking support on Wednesday and heading back down towards the 5-day lows.

    These 5-day patterns (rotating) will continue until the end of the month.


    Posted by

    SPI Trading 22nd October 2008 recap

    "Lower Weekly open and 2-3 day rotation back into the Weekly 50% level has completed (Yesterday @ 4340)

    Today's open and Wednesday is more than likely to open below the 5-day 50% level:- 4225

    A Weekly 50% level rejection and price below the 5-day 50% level isn't a good sign.

    Today:- it's all about the 5-day 50% level 4225.

    Note: Yesterday price broke out of the 3-day cycle (4229) and continued higher.

    Whenever price breaks the 3-day cycle often price can 'stall for 2 days' and then continue higher on the 3rd day.

    If price is trading around the 3-day high @ 4229, then there could be a higher Weekly close on Friday (3rd day).

    However, price can also reverse the entire length of the 3-day range, and move back down and re-test the 3-day lows, which currently are 3992.

    If price is trading below 4229 and the 5-day 50% level @ 4225, then a 2-day reversal could easily see price back around last week's lows by Thursday"

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    SPI Daily and 5-day pattern

    Double support around the 5-day 50% level @ 4225, until a late 'Hook' & reversal below sending the market down into the close.

    As per Today's report and depending on US markets on Wednesday....price could be trading around 3992 by tomorrow.





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    • Posted by

    S&P (e-mini) DOW 21st Ocotber 08 recap

    "US markets are trading below their Weekly 50% level, and I don't have a
    'HOOK' pattern to look for more upside moves...

    If US markets are going to continue higher then price should be pushed down from the Weekly 50% level and back into support.

    Note:- Below support is bearish:-

    Weekly 50% level rejection and break of support, could see US markets back down around their 5-day lows"

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    S&P Daily & 5-day range


    US markets pushed down from the Weekly 50% level into Support.

    There was some support during the day, but never got over the Weekly midpoint, and then dirfted lower on Tuesday.

    Price didn't continue down into the 5-day lows today, but at this stage a Weekly 50% level rejection and break of support is the first stage of further weakness.

    It's how price now reacts to support on Wednesday.


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    • Posted by

    SPI 21st October 2008 recap

    "Monday's trading was all about 4063:- above and it was rotating back into 4181-6 the timeframe 50% levels.

    Tuesday is all about 4289:- Below and expectation price is pulling back into 4230.

    Above 4289 it looks to be heading back into the Weekly 50% level @ 4340.

    Lower Weekly open and 2-3 day reversal back into the Weekly 50% level"

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    SPI Daily and 5-day pattern

    SPI opens around 4289 and pushes down into 4230.

    A late rally pushed upwards by resource stocks, as they follow the same pattern.

    SPI moves back into the Weekly 50% level @ 4340.

    This completes the 2-day counter-trend move upwards.

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    • Posted by

    S&P (e-mini) DOW 20th Ocotber 08 recap



    S&P daily and 5-day pattern

    "Simply trade on the Side of Support and the 5-day 50% level"

    Monday:- US markets moved higher once above the 5-day 50% level, and price has moved back into the Weekly 50% level.


    Posted by

    SPI Trading 20th October 2008 recap.

    Lower Weekly open therefore there is an expectation that price will rotate back towards the Weekly 50% level.

    That could occur in the first 2-3 days, and then the possibility of continuing down towards the Weekly lows.

    SPI intra-day patterns:- Trend guide 4063

    Monday will have an 'open-trading' set-up where the last bar from Friday needs to complete before price moves into Monday.

    If price is trading above 4063 on open then the bias of the first R44 is to rise higher:- Weekly balance point @ 4181"

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    SPI Daily and 5-day pattern

    SPI moves above 4063 and completes the move into the 50% levels @ 4181-86

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