Index Futures, Forex Reports 7th FEB 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/




Posted by

S&P (e-mini) 6th February 09 recap

"Expectation US markets going down in February, but with the HOOK pattern over the Weekly 50% level on Thursday (S&P), markets could now end up heading back towards their February 50% levels.

And at this stage (yellow) support could push the S&P back towards Fridays highs (higher Friday close)"

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S&P Weekly and 5-day pattern

Thursday's HOOK pattern over the Weekly 50% level gave a strong indication that prices were going to push higher on Friday, back towards the February's 50% level.

Weekly Report out later....



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    • Posted by

    SPI Daily 6th February 2009 recap

    "US markets rise upwards and this put the SPI moving up off yesterday's lows and looking to complete the move up into an R87 high @ 3451.

    I'm still bearish on the market and as pointed out this week, we need to see a 87 point rise upwards and then trade the move down from the 87 spiral point high using the 5-day 50% level"

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    SPI Weekly & 5-day pattern

    SPI moved up off Thursday's lows and completed the move back up into 3451.

    Expectation price would continue back down from this level, and it was looking good with a 44 point reversal, except the trend didn't continue lower.

    This week the SPI has followed a number of 'text book' patterns.

    From the expectation of an early rise upwards to a reversal back down into Wednesday-Thursday's lows.

    And now with today's 'top', there is now the expectation price will continue downwards, as part of the Monthly trend using Spiral-Point trading and the 5-day pattern.

    I'm expecting another move down next week:- 2 weeks down in February's lows

    However, if US markets move up on Friday then the SPI is back above the Weekly 50% level which could actually see the SPI back towards the last weeks highs once again.

    It’s not part of my view just yet, but I’ll certainly adjust to it based on the price action in the US.


    Posted by

    DOW Daily 5th February 2009 recap

    "Bias is to continue down this week, especially after yesterday's reversal down from the Weekly 50% levels and trading below the 5-day 50% levels.

    There is a probability pattern in the DOW that can see a 2-day pattern reversal down from yesterday's break of support into Thursday's support.

    Around that level @ 7856 could see some intra-day support, along with the S&P @ 815.

    But I'm just not sure how much upside there is going to be"

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    DOW Weekly and 5-da pattern

    US markets moved down into Support and moved into a higher Daily close.

    Even though my view was:- US markets could find support around Thursday's support, I didn't have a probability that US markets would reverse off those lows and move as high as they did.

    That was simply because of price being pushed down from the higher timeframe 50% levels this week.

    At this stage Markets remain range bound between the Weekly lows and the Weekly 50% levels.




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    • Posted by

    SPI Daily 5th February 2009 recap

    "Expectation trend is continuing down towards the February lows.

    trend guide on open is 3413

    Depends on where the SPI opens today, if below 3413 there is a possibility that there could be a lower push down towards 3360, but then a late swing upwards on Thursday.

    A push down into support @ 3360-64 (spiral filter), and any upside is going to be determined by 3394"

    Premium Report




    SPI Weekly and 5-day pattern


    SPI opened below 3413 and the expectation price was pushing down into support around 3360 (spiral filter 3364).

    I was looking for buying support to come into the market, with a possibility of a late swing towards the 5-day 50% level @ 3431.

    But I also knew that 3394 was going to play an important role today, simply because of the overall trend in the market, and that's to continue lower this month.


    Posted by

    DOW Daily 4th February 2009 recap

    There are no Weekly HOOK bars over the Weekly 50% level.

    Therefore my expectation is to move lower, and not UP towards February's 50% level.

    Trade on the side of support...

    I don't favour higher prices, but if price is above the 5-day 50% level then it's going up (random length)

    Below and it's down into Wednesday's 5-day lows.

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    DOW Weekly and 5-day pattern

    DOW moved higher off support early on Wednesday hitting the Weekly 50% level and reversing back down.

    Didn't reach Wednesday's lows, but the bias is to continue down this week.


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    • Posted by

    SPI Daily 4th February 2009 recap

    I'm bearish on the SPI:- a higher open and trading below 3470 would favour lower prices.

    dowside target 3388

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    SPI Weekly and 5-day pattern

    As per Yesterday's report and today's report, once below the 5-day 50% level @ 3469 the view was for a continuation downward.

    This follows my view of lower prices this week, with the potential of moving down towards February's lows over the next two weeks.


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    • Posted by

    S&P (e-mini) 3rd February 09 recap

    Bearish this month, as it's trading below every timeframe 50% level.

    Ideally I would have liked prices coming down from a higher Tuesday open and the Weekly 50% level....

    Trade on the side of Support (Yellow).

    Above and it's back into the Weekly 50% level:- resistance

    Below it's heading down into Tuesday's lows.

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    S&P Weekly and 5-day pattern

    S&P started the trading day below support with the expectation of heading lower.

    But I also pointed out, it would be more ideal for US markets to be trading down from the Weekly 50% level.

    Once above support, the S&P moved back towards the Weekly 50% level and stalled...

    Now it gets interesting for Wednesday's trading.







    Posted by

    SPI Daily 3rd February 2009 recap

    "SPI rises up from the 5-day 50% level @ 3457 and completes the move towards 3512 and could continue higher towards 3533"

    Pre-Market Premium Report





    SPI Weekly and 5-day pattern

    "Same pattern reversal as last week, on the fake break above the channel @ 3533 and reversal down, and if we follow the same pattern as last week the expectation is a pullback down 87 points.

    87 points down will put price below the 5-day 50% level"

    Premium Report 13:45

    SPI opened higher and followed the pre market report moving down into the 5-day 50% level and rising higher into 3533.

    As per Weekly report, I'm bearish on the SPI and once there was a 'fake' break of 3533 my expectation was that the market was going to reverse back down 87 points.

    Whilst the SPI remains below the 5-day 50% level, then the bias is down in February.

    It will now depend on US markets on Tuesday.




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    • Posted by

    S&P (e-mini) 2nd February 09 recap

    Expectation US markets are heading down in February:- resistance the Weekly 50% level.

    Random support on Yellow could see US markets move up towards the Weekly 50% levels, but I can't see too much more upside above those levels on Monday:- 5-day 50% levels.

    Below Yellow and it's down into Monday's lows...

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    S&P Weekly and 5-day pattern

    As per Weekly report, looking for a continuation down into February's lows, but Monday remained in a tight consolidating pattern between support levels and rising late in the day looking for the move back into the Weekly 50% level.

    Whilst price remains below the Weekly 50% level the bias is down.




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    • Posted by

    SPI Daily 2nd February 2009 recap

    "Expectation that after last week's higher close, the start of February would begin a move down towards the lows over the next 2 weeks.

    Monday:- Trend guide 3445

    Whilst price is below the channel lows and 5-day 50% level (3435) expectation price is moving down.

    Above and the SPI is moving back towards the Weekly 50% levels once again"

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    SPI Weekly and 5-day pattern

    SPI consolidate on Monday, mostly trading between 3445 and the Weekly 50% level.

    I'm bearish on the SPI whilst price remains below the Weekly 50% levels,

    But today remained above the 5-day 50% level, as did Friday.


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