Index Futures, Forex Reports 24th 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/




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    • Posted by

    DOW Daily 23rd January 2009 recap

    "US markets trading between last Week's Weekly lows and this Week's Weekly lows.

    but based on the January Thrust patterns I still can't see much upside on Friday

    Therefore I would continue to rely on the 5-day 50% levels in both markets, as your trend guide:- further downside"

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    DOW Weekly and 5-day pattern

    Weekly lows supported price on Friday, but the day session started closer to Friday's lows than the 5-day 50% level, resulting in a move back towards the 50% level hitting resistance.

    The ideal set-up on Friday was a similar move as Thursday, opening near the 5-day 50% level and pushing down into Friday's lows.

    A lot of volatility on Friday, and with the 5-day 50% level resisting price the expectation is that there will be continued weakness next week.



    Posted by

    SPI Daily 23rd January 2009 recap

    "Today is all about trying to pick what the SPI is going to do on Friday....

    Does Friday break the Weekly lows and continue down into a lower Weekly close?

    Or Does the SPI move back towards the 5-day 50% level late in the day, and close around it's mid point.

    Yesterday's high was a perfect 87 point top, so we still favour a move down from yesterday's top 87 points

    If Price is trading below the Weekly lows @ 3426 there is a lower Friday close, and it's part of the monthly trends down towards January's lows"

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    SPI Monthly and Weekly

    SPI opens below 3426 and doesn't look back, as it breaks the Weekly lows and heading down towards January's lows which will probably reach by next week.


    Posted by

    S&P (e-mini) 22nd January 09 recap

    "US markets moved down into the Weekly lows and reversed upwards, as part of Wednesday's set-up....

    But I’m not sure how much more upside there is based on the previous Weekly low breakout, and the state of Financial stocks atm.

    Thursday looks like a consolidating trading day, but based on the higher daily open

    I would favour a move back down into support and from there it's anyone guess..."

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    S&P Weekly and 5-day pattern

    Thursday ended up a choppy trading day, which resulted in a consolidating day around support.

    I didn't expect an UP day, but simply a move down from Thursday's higher open and down into support...

    Once it got down into support I had no expectation, and we can see the price movement either side of support but remaining below the 5-day 50% level....



    Posted by

    SPI Daily 22nd January 2009

    "The SPI is opening around the 5-day 50% level @ 3464.

    Normally we would use this to trade the market down, but looking at the price action over the past 3-days, Thursday looks like a consolidating trading day.

    Depends on where the market opens today.

    Ideally I would like to see a push down from 3477 , it's a higher open (spiral).

    If the SPI moves down and completes the R44, then the weekly lows should be used as a trend guide @ 3426:- random support"

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    SPI Weekly and 5-day pattern

    My probability 'short' set-up didn't play out this morning because the SPI opened lower than expected.

    The SPI completed the 44 point down range and then reversed back upwards using the Weekly lows as some supporting leverage.

    As I thought today would end up:- consolidating trading day



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    • Posted by

    S&P (e-mini) 21st January 09 recap

    "US markets have moved down into the Weekly lows.

    Trading plays:- moves down into Yellow Support early with the potential to swing back towards the 5-day 50% level..

    If price rising upwards late in the day or after Wednesday has closed, then this could result in a higher daily close"

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    S&P Weekly and 5-day pattern

    Weekly lows support has played out, confirmed with Wednesday's support and a reversal back towards the 5-day 50% level.

    Once Wednesday closed, futures continued higher back towards resistance and a higher daily close.


    Posted by

    SPI Daily 21st January 2009 recap

    It depends on where the market opens today and how we play it.

    If it moves up into 3404 I would like to short it down (44 points)

    If the market responds to BHP's report and price bounces off $28.00, if the SPI is above 3404 then I would look for a move back towards yesterday's highs:- R44 hook above 3404

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    SPI Weekly and 5-day pattern


    SPI sell down early in the trading precisely 44 points...

    BHP finds support @ $28.00, and the SPI follows with a HOOK pattern back above 3404, and late buying upwards....

    But couldn't muster too much upside because of the Weekly lows.



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    • Posted by

    S&P (e-mini) 20th January 09 recap

    "Weekly 50% level rejection and trading below last week's 3-week lows:- expectation to continue down into this week's Weekly lows.

    Break of Yellow support on Monday and expectation price will continue down into Yellow support on Tuesday.

    Resistance:- 5-day 50% level

    There could be some support on Tuesday, but I'm not factoring an UP day simply because of the Weekly sell pattern currently playing out

    Either price breaks Tuesday's Yellow support and continues down into Tuesday's lows, which is part of the push down into the Weekly lows"

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    S&P 500 Weekly and 5-day pattern

    On this great day of Obama's inauguration, and US market's can't even give him an UP day...

    US markets follow the probability of continuing down into the Weekly lows, as part of the drive down into January's lows,.....

    and then further down into February's lows (read Weekly report)

    Posted by

    SPI Daily 20th January 2009 recap

    "Based on last week's price action and Monday's, I still favour a move down to complete a 87-point range.

    Down trend continues from Yesterday’s 5-day 50% level, the breakout of the 5-day lows last Thursday…..with the overall view that the SPI is heading down towards the Weekly lows @ 3426"

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    SPI Weekly and 5-day pattern

    Weekly support and bounce confirmed with a HOOK back above the 5-day lows @ 3442.

    We have now set up a potential move towards the Weekly 50% level.

    But as I mentioned in the Weekly report, any UP swing is simply based on how BHP responds to its results tomorrow.

    And obviously what occurs in the US markets on Tuesday.

    Posted by

    SPI Daily 19th January 2009 recap

    Weekly lows supported the market last week @ 3481,
    but with a shift of the Weekly lows this week the expectation is to
    push down towards the new Weekly lows @ 3426

    This is also confirmed with the breakout of the 5-day lows on Thursday,
    with the view that price is moving down on Monday.

    Monday SET UP- price move up towards the channel highs and 5-day 50% level:- resistance 3569-72

    day-traders should define the rest of the day by 3481:- random support"

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    SPI Weekly and 5-day pattern

    Recap 16:15


    SPI pushed up early into the Resistance levels @ 3569-72 and reversed down.

    This favoured the move from Thursday's breakout and expectation of the market moving lower, but also the 5-day 50% level 'THRUST' pattern downward in the new week.

    Sadly the move towards 3481 didn't play out, but instead another small range consolidating trading day below resistance.


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