SPI Daily 8th April 2009 recap

"Higher Weekly open and 2-day reversal down has played out with today’s open

Higher Weekly open breaks the 5-day 50% level and price follows a Top-to-Bottom Weekly timeframe?

If this is the case then expectation price continues down towards the Weekly 50% level 3611"

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SPI Weekly and 5-day pattern

Today was all about the 5-day 50% level...

Once price open and started trading below, price followed the breakout pattern and headed down into the Weekly 50% level @ 3611 finding random support.

1 day left for the trading week, and there is an expectation of lower prices....

but the SPI can also swing back upwards and retest the break.

That will depend on US markets on Wednesday, as they are trading around their Monthly 50% levels.


Posted by Frank Dilernia

S&P (e-mini ) 7th April 09 recap


"2-day reversal pattern playing out from the higher Weekly open and moving down towards support and the higher timeframe Weekly 50% levels.

The pattern that I would like to see is price hit the blue channel lows find support on Tuesday, and then continue higher on Wednesday"

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S&P Weekly and 5-day pattern


US markets have played out a 2-day reversal into weekly 50% level, and currently the support isn't holding on Tuesday @ 814.

There can still be an UP day on Wednesday (random length), but that needs to see price back above the 5-day 50% level in early trading.....

otherwise price most likely to follow the move down into Wendesday's support, as part of a higher Weekly open and reversal down :- 5-day consolidating trading pattern






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    • Posted by Frank Dilernia

    SPI Daily 7th April 2009 recap

    "I can't see much upside until there is a pullback into the 5-day 50% level.

    Higher Weekly open and trading down from resistance:- 2-day pullback

    Today:- higher spiral point then the day session needs to complete the move down into 3719"

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    SPI Weekly and 5-day pattern

    Higher spiral point on open and expectation there would be some selling down into 3719, which was a random support pattern today:- exit and move to the sidelines.

    Tuesday ended up a consolidating trading day around upper resistance levels...

    Whilst price is trading below 3768 there is an expectation of a pullback into the Weekly 50% level @ 3611

    That down move needs to be trading below the 5-day 50% level.

    Otherwise, after a 2-day reversal pattern or consolidating trading pattern above the 5-day 50% level often the market can follow another higher Weekly move towards 3845.

    That will depend on US markets on Tuesday and whether price is trading above 3768.



    Posted by Frank Dilernia

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

    "On Friday there was an expectation of higher prices using support, but on Monday this is less so because it’s now a higher Weekly open with the expectation price would reverse back 2-days into the 5-day 50% level

    Whilst price is above support then it’s going higher.

    Below support and it’s part of a pullback into the 5-day 50% level"

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    S&P Weekly 5-day pattern

    US markets trading around upper resistance with a higher Weekly open on Monday

    And once price started trading below Support, price moved down into the 5-day 50% level.





    Posted by Frank Dilernia

    SPI Daily 6th April 2009 recap

    "Early this week is about whether the SPI is going to continue up towards April's highs @ 3845...

    Or....

    Follow a 2-day reversal from a higher Weekly open back towards the Weekly 50% level.

    We have higher Spiral points, it's a higher Weekly open and trading around resistance @ 3777

    Therefore at this stage I favour price moving down towards 3719"

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    SPI Weekly and 5-day pattern

    Early resistance and selling pressure around today's highs but no follow through on the downside, not even completing a statistical range of 44 points

    Based on the 5-day pattern extension, it looks like price should complete the move into April's highs @ 3845 in sycom or tomorrow.



    Posted by Frank Dilernia

    Index Futures, Forex Reports 4th Apr 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/


    OIL Futures:- OIL BOIL

    http://www.oilboil.blogspot.com/



    Note: Weekly BHP, RIO, and Banking Report Update

    http://aussie-stocks.blogspot.com/



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    • Posted by Frank Dilernia

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

    "S&P has fulfilled my first upside target in April @ 842

    There is a breakout of the 5-day high on Thursday, therefore the expectation is to push upwards on Friday.

    Ideal pattern would be to test Yellow support and continue upwards:- Higher Friday close"

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    S&P Weekly and 5-day pattern

    Friday played out precisely, but in any other situation Friday would have continued towards the Friday highs.

    This suggests that around these levels @ 842 is forming a resistance zone, so it will be interesting how US markets react early next week.....

    Higher Weekly open, already trading around upper Monthly levels in April.

    This suggests and a short-term pullback next week towards the Weekly 50% levels.



    Posted by Frank Dilernia

    SPI Daily 3rd April 2009 recap

    "Expectation of an early push upwards in April makinh a higher high is playing out.

    First target @ 3768 reached.

    Random resistance Friday's highs and Spiral top.

    Support: Thursday's highs @ 3710"

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    SPI Weekly and 5-day pattern

    Higher Weekly close and first target reached @ 3768, with a Text book pattern on a 2 X Monthly move should take the SPI up towards 3845 (April high).

    At this stage Whilst pricec is trading around these levels and a higher Weekly open next week I would like to see the SPI move back down into the Weekly 50% level.

    Weekly Report out tomorrow
    Posted by Frank Dilernia

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

    "Higher move in early April should push up the S&P up to 842....

    Hard to trade longs around the 5-day highs in the US...

    Thursday just might end up a small range day that consolidates around these upper levels"

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    S&P Weekly and 5-day pattern

    Expectation of higher moves in early April have played out completing the first target of higher highs @ 842.

    The trend remains up and i'll get a better idea on US markets after this week has closed out.

    Whilst price is above the April 50% level @ 797 the bias is to move higher, but if there is a Weekly close below 797, then my view begins to change.



    Posted by Frank Dilernia

    SPI Daily 2nd April 2009 recap

    "Bullish in early April and price is above the 5-day 50% level @ 3626

    We have the HOOK pattern in the 24 hour market and the expectation is now that price should continue towards the 5-day highs @ 3710"

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    SPI Weekly and 5-day pattern

    SPI opened higher and moved down into support @ 3626 and then continue towards the 5-day highs @ 3710.



    Posted by Frank Dilernia

    DOW S&P Daily 1st April 2009 recap

    "I'm bullish in the Short-term in early April, but US markets are trading below their Monthly 50% levels.

    Weekly 50% supporting the market.

    Above the blue channels and in the short-term could attract buyers upwards

    If that can occur, then there is more chance of a higher Weekly close as I would think that Thursday would continue higher from the 5-day 50% level"

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    DOW Weekly and 5-day pattern


    Bounce off the Weekly 50% level on Monday and move then a bounce off support on Wednesday and back above the 5-day 50% level fulfills my view of higher prices in early April.

    Expectation that this pattern should continue towards the Weekly highs this week.

    The important part in Wednesday's trading is the Daily closure above the April 50% level.



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    • Posted by Frank Dilernia
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