Index Futures, Forex Reports 10th Jan 09

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/


There is also a new Article found in the Trader SET:- intra-day timing techniques for day-trading the SPI futures.





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    • Posted by

    S&P (e-mini) 9th January 09 recap

    "US markets have reversed into the January 50% level and have been pushed down.

    I'm looking for Friday as a consolidating trading day until next week.

    Once again it's all support trading on the Side of Support (yellow)

    Below support and the bias is to move back down into Friday's lows"

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    S&P Weekly and 5-day pattern

    The charts tell the story on Friday's trading.

    Below Support and the 5-day filter and the likely path for Friday was to move back down into the lows...

    Resulting in a lower Weekly close, which is below the Weekly 50% level and a rejection pattern down from the monthly 50% level in January.

    Not a good sign for any higher moves this month.



    Posted by

    SPI Daily 9th January 2009 recap

    "There is no probability pattern today, as price looks to be moving into a weekly 5-day sideways pattern, and hopefully closes above the Weekly 50% level.

    Resistance 3733..

    SPI remains trading above the Weekly 50% level, therefore it's important for any trend that Friday closes above this level @ 3681.

    Today I would focus on simply trying to take 20 points on any trades"

    Premium Report



    SPI Weekly and 5-day pattern

    Friday closes around the middle of the 5-day range, as part of the Weekly sideways pattern.

    Today was simply about taking small chunks out of the market of 20 points and bag them.

    Friday closed above the Weekly 50% level, but that doesn't mean much, as next week starts all over again.

    Weekly Report out tomorrow.



    Posted by

    S&P Daily 8th January 2009 recap

    "The reversal was set-up with yesterday's break of support (yellow) and move down into the blue channels....

    With price below those blue channels on Thursday, the expectation is a continuation down into Thursday's lows.

    Ideal set-up would be an early rise into the blue channels and sell down into Yellow support"

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    S&P Weekly and 5-day pattern

    Thursday moved into consolidating trading pattern between both the 5-day levels:- blue and yellow

    The ideal set-up was an early rise upwards and short-trade back down into support, but the S&P didn't rise high enough for that trade to play out.....


    Posted by

    SPI Daily 8th January 2009 recap

    "Trend guide 3706

    often price can move down 27 points before reversing upwards.

    I'm not expecting too much movement today other than another consolidating trading day.

    Weekly 50% level is still the trend guide for this week"

    Premium Report


    SPI Weekly and 5-day pattern

    SPI pushed down on open 27 points and remained below 3706 for the entire day resulting in a consolidated trading day.

    It remained below the Weekly 50% level @ 3681 for most of the trading day until the market closed, and then the futures market pushed the closing price back above the Weekly 50% level at the end of the trading day.

    Two important patterns on price action in the US and on the SPI....

    Firstly the reversal down from the January 50% levels on Tuesday (read S&P report below), and it has been the first time in nearly 5 weeks that there hasn't been a reversal back towards the 5-day 50% level during the trading day on the SPI.

    And I can't see too much upside in US markets on Thursday......


    Posted by

    S&P 500 Daily 7th January 2009 recap

    "US markets are trading in a tight band that is being 'capped' below the January 50% levels, and with Tuesday's reversal down from the monthly 50% level, there is now a possibility that prices could begin to drift back down into the Weekly 50% levels.

    There can't be a reversal down unless price is trading below support (yellow), and a break of support favours a 2-day down pattern, which I would look for a move towards the blue channel 5-day filter"

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    us1-7z

    S&P Weekly and 5-day pattern

    Wednesday's trading followed Tuesday's reversal pattern down from the January 50% level....


    Breaking support (Yellow) and moving directly down into the Weekly 50% level, which was matched by the 5-day channel blue filter.





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    • Posted by

    SPI Daily 7th January 09 recap

    "This week on the SPI has seen the market come down test the Weekly 50% level and bounce.

    Tuesday's bounce precisely of the lower support zones of 3679.


    And this now sets up further gains this week towards the Weekly highs.


    Once again use the levels with the 5-day pattern for day traders :- Support 3756"

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    SPI Weekly and 5-day pattern

    SPI supported above 3756, but any extension upwards failed to take hold, instead consolidating in 44-point rotations.

    Bias remains to continue towards the Weekly highs...



    Posted by

    S&P Daily 6th January 2009 recap

    "We can see there is a 3-week high breakout in the S&P, therefore there is an expectation of higher prices....

    Monday stalled and moved into a consolidating trading pattern, and we can see that in both markets that there was a breakout of Friday's highs.

    Whilst above those Friday highs there is now an expectation that the bias is to continue higher on Tuesday:- random length using support (Yellow)     "

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    S&P Weekly and 5-day pattern

    Tuesday ended up trading between support and the January 50% levels.

    At this stage the bias continues to be UP, but it's struggling to close above the January 50% levels.


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    • Posted by

    SPI Daily 6th January 2009 recap

    I mentioned in the Weekly report that my expectation is that price would remain range bound between the Weekly 50% level and Weekly highs.

    The important pattern is that price is still supported above it, and it has supported the market for the past few weeks.

    If the SPI is going to continue higher then price should remain above the blue channel lows @ 3679 & Weekly 50%

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    SPI Weekly & 5-day pattern

    SPI opens higher comes down and test support and then moves up towards the upper channels and stalls.

    It's now upto US markets to continue higher, but this price action on the SPI favours new highs this week, if US markets remain supported.



    Posted by

    S&P 500 5th January 2009 recap



    S&P Weekly and 5-day pattern

    Expectation US markets would move into a 2-day 'stall' pattern before any potential continuation upwards.

    Price is still trading above last week's weekly highs, but more importantly remains below the January 50% levels.


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    • Posted by

    SPI 5th January 2009 recap



    SPI Weekly and 5-day pattern

    As pointed out in the Weekly report, last week failed to move above the Monthly 50% levels.

    Today has rotated back down into the Weekly 50% level, which started once price was below 3762.

    This Weekly 50% level is a major trend guide for January on any higher moves...





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