Index Futures, Forex Reports 30th 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

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

    DOW Futures 29th MAY 2009 recap

    "With Yesterday’s higher Daily close, there is now an expectation that price will continue into a higher weekly close on Friday.

    Friday:- whilst above the 50% levels the bias is to continue towards Friday’s highs.

    If still long From Thursday's lows then sit back.

    If wanting to go long, then the ideal pattern would be to retest the 5-day 50% levels and then continue higher into Friday"

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    DOW Weekly and 5-day pattern

    Weekly HOOK patterns this week along with the Weekly 50% levels supporting the market, set-up higher Friday closes this week as part of a larger rotation upwards towards the Yearly 50% levels (Read Weekly Report)

    Along with the precise set-up using the 5-day 50% level on Friday.

    MAY high resistance has ended, and there is now as Shift higher towards June's highs.


    Posted by

    SPI Daily 29th MAY 2009 recap

    Last day of the month and where the SPI closes today and where it opens on Monday will have a bearing on early June, as I'm looking for a continuation upwards in June.

    Friday:- At this stage the trading range is shown between the blue channels :- 3758 & 3791.


    Either side of those levels don't fight the trend, as price is likely to move away 40-44 points

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    SPI Weekly and 5-day pattern

    SPI openned near lower support @ 3758 and continued higher breaking the upper channel @ 3791.

    Once above that level, there was an expectation that prices would continue with the break 40-44 points.

    Once that played out, along with the Spiral top high, there was a late sell into close.

    Weekly report out tomorrow



    Posted by

    DOW Futures 28th MAY 2009 recap

    "I favour the 50% level forming some intra-day resistance that could push price back down into support levels.

    Probability pattern:- 5-day 50% level along with the week 50%@ 8338 pushes price down into support levels as shown.

    This could lead to some support and then a late move back above the 50% levels and a higher daily close"

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    DOW Weekly and 5-day pattern

    US markets remain range bound with Thursday's early sell down into support and a higher Daily close.

    Based Thursday's Trading, I would favour a continuation upwards on Friday using the same levels as support.

    With 1 day left in MAY, the resistance levels of the MAY highs shift higher and I favour a continuation upwards in June.



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    • Posted by

    SPI Daily 28th MAY 2009 rcap

    "SPI back under the Weekly 50% level, with the bias to push down.

    Depends on where the SPI opens, but the closer to 3772 the expectation price will push down 21 points into 3751, along with the bias to push down 42-44 points"

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    SPI Weekly and 5-day pattern

    SPI didn't open high enough or trade close enough to 3772 to get ideal set-ups to play out today, and we have another lack luster trading day which couldn't even move it's usual 42-44 point range.

    We are coming into the last day of the month and we can see that if things stay where they are now as price continues to consolidate around 3740, we will be opening below the JUNE BP @ 3810

    We have seen the past couple of months price opening above and heading higher in the early part of the month, but based the current price action I would favour a push down into lower support zones.


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    • Posted by

    S&P (e-mini ) 27th MAY 09 recap

    "Two trading patterns:-

    IF price moves up early and into Wednesday's highs @ 916, then my expectation is a push back down into the 50% levels.

    IF price pushes down early into Support @ 891, bias is to close higher"

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    S&P Weekly and 5-day pattern

    S&P didn't move high enough on Wednesday for ideal limit enteries to trade the move back down into the 50% levels.

    With a late Sell off down into Support @ 391, and after hour futures trading below.




    Posted by

    SPI Daily 27th MAY 2009 recap

    "Price is back above the Weekly 50% level @ 3800:- Support 3800

    In the day session charts we have the 5-day highs and 3-day cycle highs @ 3851-53:- resistance.

    This should hopefully push the SPI down into Support, and Wednesday could end up a range day between resistance and support 3800"

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    SPI Weekly and 5-day pattern

    SPI didn't move high enough on Wednesday to get ideal 'short' positions to trade down into Support.

    It was another lack luster trading day, with most of the trading day swinging around in 21-23 point moves until late in the day...

    A late sell off late in the day, which surprisingly didn't hold support :- closing below.




    Posted by

    S&P (e-mini ) 26th MAY 09 recap

    "Trading between the week 50% levels (support) and the 5-day 50% level (resistance).

    My ideal pattern would be for US markets to move into the 5-day 50% levels & then continue down into Support (Weekly 50% level)"

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    S&P Weekly and 5-day pattern

    Same pattern as last week, rising up from Support and will probably continue higher.

    My Day trading set-up was for an early rise up into the 5-day 50% level and then trade down into Weekly support, instead price moved down early and rose up from Support.

    With only a few days to go until the end of the month, US markets look like continuing up towards the June highs without pulling back into the monthly 50% levels.


    Posted by

    SPI Daily 26th MAY 2009 recap

    "Higher Spiral point on Tuesday around 3763 can continue up towards the 5-day 50% level @ 3789...

    It can also push down in early trading random length    "

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    SPI Weekly and 5-day pattern

    5-day lows @ 3724 continued to support the market, resulting in a late move up towards 3763 and then a continuation back into the 5-day 50% level and another spiral top @ 3792

    I was looking for early selling pressure around 3762, but the SPI didn't open high enough, instead pushing back down into the 5-day lows in early trading, and then a late rotation upwards.

    The interesting pattern now is the Weekly 50% level 3800 and the 5-day 50% level:- does this result in a higher daily open tomorrow and a Sell down towards the Monthly 50% levels by the end of this week?

    That will depend on US markets on Tuesday





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    • Posted by

    SPI Daily 25th MAY 2009 recap

    "SPI Trading below the Weekly 50% level @ 3800, with the expectation price is trying to move down into the Monthly 50% level before the market continues higher.

    We have Spiral tops and 5-day 50% level resistance, with the expectation that price needs to move down

    Today's trading is simply going to be based on Friday's leftover from the Spiral filter @ 3776-84"

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    SPI Weekly and 5-day pattern

    Today's set-up was about short trading down from a higher open @ 3776-84...

    Instead price opened lower @ 3757 and then moved up into resistance before heading down into Monday's lows @ 3724.

    At this stage there is an expectation of lower prices in MAY and the last week of this month, but that will depend on US markets once again on Monday, on how quickly we move down into support around the monthly 50% levels.



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