Index Futures, Forex Reports 16th May 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/


Posted by

SPI Daily 15th MAY 2009 recap

"If price is rising up from the monthly levels @ 3740 and a lower Daily open, then the view is that today is trying to fill the 'gaps' on the upside, which could see the SPI back around the Weekly 50% level by sycom.

Support 3741

Random resistance 3785:- Day session"

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SPI Weekly and 5-day pattern

SPI trying to fill the gaps on the Upside, and could result in a move up into those levels by Sycom if US markets follow their Weekly 50% level support levels (charts below)

Slow trading day after the initial UP move into resistance:- 3785


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    • Posted by

    DOW Futures 14th MAY 2009 recap

    US markets trading around their Weekly 50% levels

    Because of yesterdays break of the 5-day lows Set-ups today:-

    Sell down from the 5-day 50% levels down into the 5-day lows.

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    DOW Weekly and 5-day pattern

    DOW moved up into the 50% levels on Thursday, but I expeced more selling today and into the 5-day lows and support.

    It seems US markets are now trading between the MAY highs:- resistance....

    And the Weekly 50% levels:- current support.

    My view remains that US markets should push down towards their Monthly balance points @ 7936



    Posted by

    SPI Daily 14th MAY 2009

    "Day session 5-day pattern there is a breakout of Thursday's lows 3785.

    Therefore price is going to struggle to rise higher than those levels today.

    Normally the most robust pattern to short trade would be to see the SPI rise up into a Spiral top 42-44 points during the day and then short trade the top with the expectation of price coming down.

    Trend guide 3751"

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    SPI Weekly and 5-day pattern

    First stage of the reversal down into 3740 has completed from the MAY highs, with the expectation price will continue down into the MAY 50% levels this month.

    Today ended up consolidating in a small range day of 44 points after the early rise and Spiral top @ 3768.

    Once under 3751 price struggled to move higher.






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    • Posted by

    S&P (e-mini ) 13th MAY 09 recap

    "US markets trading around their MAY highs with the expectation of price moving down into monthly 50% level support

    Trade on the side of Support.."

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    S&P Weekly and 5-day pattern

    US markets continued the down move with a break of support and finally breaking out of the 5-day lows.

    At this stage the Weekly bias is to have a lower close, and continue down towards 845.

    Using the 5-day pattern as a trend guide for the rest of this week.




    Posted by

    SPI Daily 13th MAY 2009 recap

    "Looking at the day session:- trend guide is 3883, which matches the 5-day 50% level @ 3885.

    If the SPI is going to move lower, then it will be moving down from a higher Spiral point and trading below 3883 and into 3851.

    Wednesday low @ 3838 Random support"

    SPI Weekly and 5-day pattern

    Wednesday was about trading with the direction of the 5-day filters...

    Below 3883 and it was down

    If the SPI had traded above 3908, then my view was a higher Wednesday after a 2-day reversal down into the Weekly 50% level.

    The bias is to 'short trade' as price is trading around the MAY highs using 5-day pattern resistance levels....

    But it doesn't mean there won't be UP days either if prices are trading above certain levels.


    Posted by

    S&P (e-mini ) 12th MAY 09 recap

    "Expectation of price coming down into the Weekly 50% levels.....

    Ideally a move from Yesterday's break of Yellow support should continue down into Tuesday's Yellow Support , as per Text book patterns"

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    S&P Weekly and 5-day pattern

    Expectation of a push down from Monday's break and into Tuesday's support nearly paid off, with support just failing to hit.

    I actually expected the 5-day 50% level to resist price, but early in the session US markets moved up to retest the break on Monday.

    At this stage in the Week & based on the current price action I'm looking for a 5-day sideways pattern.

    Even though i'm looking for prices to reverse down from the MAY highs, the Weekly 50% level could support price over the next 5-days, resulting in a 5-day sideways pattern.


    Posted by

    SPI Daily 12th MAY 2009 recap

    "Closer to 3896-3902 and expectation price is moving down into 3857.

    3852-3856 is valid support today, but keep in mind that Tuesday's 5-day lows are around 3840

    Because of the expectation of lower prices in MAY:- if I'm trading longs I want to be taking quick profits of 20 points.

    If price matches resistance I want to be holding shorts for longer:- 44 points"

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    SPI Weekly and 5-day pattern

    Flat day around support on Tuesday:- Weekly 50% level

    SPI didn't open high enough or trade around resistance today to get into ideal 'short-trades' today.



    Posted by

    DOW Futures 11th MAY 2009 recap

    "US markets trading around their MAY highs...

    I pointed out last Week, if US markets had reached their Friday highs I would be looking for a 2-day reversal down early this week.

    Because price is currently above the 5-day 50% levels, then Monday can go higher.

    Trade on the side of the 5-day 50% level and support"

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    DOW Weekly and 5-day pattern

    As per Weekly report, I'm looking for global markets to begin to unwind and move back towards their Monthly 50% levels.

    Monday started above support and the 5-day 50% level, but once price began to trade below the 5-day 50% level price struggled to move back above.

    Expectation price is rotating down towards the Weekly 50% level this week.



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    • Posted by

    SPI Daily 11th MAY 2009 recap

    "SPI trading around the MAY highs and a higher Weekly open:- 3850-67

    Trend guide 3935

    My expectation is that price will reverse down, but as pointed out last week, we need to see price trading below the 5-day lows to confirm any lasting reversal"

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    SPI Weekly and 5-day pattern

    Higher open on the SPI around the MAY highs and selling breaking support around 3935.

    3935 became the trend guide and expected resistance, but there was a lack of follow through on the downside on Monday.

    We can see the shifting Weekly 50% level moving higher @ 3856, and until price is trading below that level, there is nothing to stop the SPI moving up towards the Weekly highs @ 4040-56.

    However, it's the first time in a couple of weeks that price has closed below the 5-day channel lows @ 3935.



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