Index Futures & Stock Reports 29 Aug 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



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    • Posted by

    SPI Daily 28th August 2009 recap

    "Early resistance @ 4473.

    However, Friday will be based on the Yearly 50% level @ 4455, and how price reacts to this level in the afternoon.

    If it's going to go higher into the close it might follow the 2.50 pm buying
    pattern that sometimes occurs on Friday and higher Friday close following the
    R87 range upwards @ 4489"

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    SPI Weekly and 5-day pattern

    Extremely slow price action today trading above the Yearly 50% level @ 4455.

    Early rise into resistance and a retest of the Yearly 50% level @ 4455.

    Late support saw buying into the market after 14.50, pushing prices higher toward 4489, and probably a continuation towards September highs next month.



    Posted by

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



    S&P Weekly

    There was no probability pattern on Thursday other than expecting US markets to continue higher in September, because of price currently trading and looking like it will close above the August highs.

    Trend guide will be next week's 50% level.


    Posted by

    SPI Daily 27th August 2009 recap

    "At this stage we are treating the SPI to be 'range trading' between the levels in the Primary range and 5-day pattern.

    Range from yesterday needs to complete @ 4415... (support 4412)

    Early trend guide is 4426"

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    SPI Weekly and 5-day pattern

    Expectation that the early trend would move down from the higher daily open into 4415

    This set-up a lower spiral point, as Wednesday's range had to move into Thursday's range.

    However, it wasn't until price moved back above 4426, that price moved into 'range trading' with a high around the spiral top @ 4448.






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    • Posted by

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


    S&P Weekly and 5-day pattern

    S&P remains range bound and currently supported around the 5-day 50% level.

    With the S&P hitting the Yearly 50% level I'm still looking for a rotating down into the Weekly 50% level this week.


    Posted by

    SPI Daily 26th August 2009 recap

    "Trend guide 4414

    Above and the SPI could follow a 5-day pattern towards 4457.

    This is based on the break from 4373 and the primary range target"




    SPI Weekly and 5-day pattern

    SPI back into the 5-day highs and the Yearly 50% level.

    It's too early to tell whether there is a double top at this level until price is trading back under the 5-day 50% level.

    If US markets follow the same pattern and move down on Wednesday, then the SPI could be opening below support tomorrow.

    I was a lot more confident in the reversal down last time, even though
    the exact same patterns of the 5-day highs have stalled price from rising previously
    @ 4474 and 4457 today.

    At this stage with the market nearing the end of August and trading above the August highs, a breakout and extend pattern in September can occur towards the highs using next week's 50% level.




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    • Posted by

    S&P (e-mini ) 25th August 09 recap

    "US markets reversed down on Monday without the S&P hitting the Yearly 50% level @ 1037.50

    Because of this pattern and the position of the levels I can’t favour a continuation down until the S&P at least reaches the Yearly 50% level @ 1037.50 on Tuesday or Wednesday"

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    S&P 500

    S&P Yearly 50% @ 1038 has reached after last week's HOOK pattern.

    Once 1037.50 was reached sellers came into the market, and I would look for a push back down towards the August highs @ 1012.

    At this stage for any continued weakness in the S&P needs to be trading below the August highs @ 1012 by the end of the Week, and be continuing down the following week.

    Otherwise, a Monthly close above 1012, can see the S&P follow the September pattern into higher highs.



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    • Posted by

    SPI Daily 25th August 2009 recap

    "Because price is still trading above those levels (4373-87) , the SPI can continue higher this week back into the Yearly 50% level @ 4455

    Trend guide 4383

    There seems a lot of support around 4373 today"

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    SPI Weekly and 5-day pattern

    Support around 4373, but it was extremely choppy around my spiral filter @ 4383 today.

    It wasn''t until afternoon trading that the SPI finally completed the move up into 4410.

    I'm bearish on the SPI even around these high and consolidating pattern, but a reversal down won't be confirmed until the S&P reaches the Yearly 50% level.

    Basically for the SPI to move lower, the S&P has to lead with a break of support after reaching the Yearly 50% level @ 1038

    Posted by

    S&P (e-mini ) 24th August 09 recap

    "S&P should complete the Yearly 50% level on Monday @ 1037.50

    The 5-day highs will match the Yearly 50% level.

    If that’s the case, then price needs to either hit the Yearly 50% level or Monday highs but then be trading below support levels for a pullback into the 5-day 50% levels."

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    S&P Weekly and 5-day pattern



    S&P trading below support and pulling back into the 5-day 50% levels, however it didn't rise high enough to complete the move of the Primary trend

    I was looking for at least a move into 1037.50 before any potential down move.

    That might still happen, but that will be when price is trading below the Weekly 50% level.

    At this stage I'm treating US markets as a 'short-term' pullback into the 5-day 50% levels until 1037.50 is reached.



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    • Posted by

    SPI Daily 24th August 2009 recap

    "5-day pattern trading today:- trend guide 4332.

    Above expectation price is moving towards 4354.

    Above this level and price can continue towards the 5-day highs

    Based on the S&P moving towards 1038"

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    SPI Weekly and 5-day pattern.

    5-day range trading with today’s open above the 5-day 50% level and above the 5-day filters.

    Continuation of the 5-day pattern into Monday’s highs.

    Any reversal down from this level needs to see the S&P stall and reverse down from 1038, and then be trading below the 5-day 50% level by Tuesday.

    I'm bearish on the SPI, as i'm looking for a 3rd quarter pullback from these Yearly 50% level, but the reversal pattern is now going to be decided on the S&P if it follows the same pattern.







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