Index Futures & Stock Reports 26 Dec 09

Weekly Index & Forex Reports out now...

Australian Index (SPI) Futures

DOW and S&P Index Futures


OIL Futures:- OIL BOIL

Note: Weekly BHP, RIO, and Banking Report Update

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  • SPI Daily 24 December 2009 recap

    "Breakout of Wednesday’s high should continue into Thursday’s highs.

    Thursday is about whether the market continues to trend upwards into a higher weekly close

    Or rotates down over the next 1-2 days, using next week’s 50% level as support.

    High risk trading shorts above Thursday’s high, as the Weekly timeframe looks to be trending into a higher weekly close.."

    SPI Weekly and 5-day pattern.

    As pointed out in the Weekly report:- above 4690 after the first 2-days and potential higher weekly close by the end of the week.

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  • S&P (e-mini ) 23 Dec 09 recap

    "At this stage there isn't any pattern to confirm more gains this week.

    Therefore the 5-day highs are seen as resistance levels....

    Whilst the Yellow levels are seen a random support"

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    S&P Weekly and 5-day pattern

    Consolidating trading day within the 5-day pattern.

    SPI Daily 23 December 2009 recap

    "The expectation was for the first 2-days to move higher and now the 3rd day is above the monthly 50% levels, which could result this week continuing towards the Weekly highs @ 4806 and more

    The last R42 range from Tuesday needs to complete and if it continues higher then that level is 4724.

    Above 4724 and the market is heading higher"

    SPI Monthly and 5-day pattern.

    As per Weekly report:- A 2-day UP move to begin the week and if above 4690 there is an expectation that the Weekly timeframe should continue towards 4806, and probably close above it.

    However, there is a shorten week because of the Christmas holidays and that higher Weekly close might not eventuate.

    And any trend is dependant on US markets following the same price action.

    S&P (e-mini ) 22nd Dec 09 recap

    S&P Weekly and 5-day pattern

    Tuesday completes the 2nd day up move to begin the week...

    SPI Daily 22nd December 2009 recap

    "5-day level @ 4648:- support.

    Tuesday’s highs match December 50% levels

    Tuesday is part of the 2nd day up move:- 42 points up @ 4689"

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    SPI Monthly and 5-day pattern

    As per Weekly report, last Friday’s price action and expectation that the SPI would begin this week with a bias of moving higher in the first 2-days.

    Today was part of the 2nd day up move, but price is still trading around the December 50% levels and Tuesday’s high.

    Eventually the market will have to move out of the current range and there is also an expectation that US markets still have 1 more UP day.

    The 3-year 50% level @ 4617 (Yellow) has been supporting the SPI for a number of weeks now, and this dynamically jumps up in 2010 to around 4900

    Looking at the market dynamic for 2010, I would look for a range bound market between those two yearly level in 2010. (Red and Yellow)

    That means that if the SPI continues to consolidate for the rest of this month, then there is potential continuation upwards in the first quarter of 2010, however I’m still looking for the market to rotate back down into the lower Yearly level(red) in 2010, but it doesn't look like happening in December.

    S&P (e-mini ) 21st Dec 09 recap

    "With Friday’s 5-day low support and higher daily close, I would look for US markets to begin this week with a 2-day UP move.

    1100 trend guide"

    S&P Weekly and 5-day pattern.

    Friday’s pattern in the S&P help set-up Monday as being the first UP day, and hopefully by Wednesday the S&P will finally complete the 4th Quarter targets @ 1126.

    SPI Daily 21 December 2009 recap

    SPI Monthly and 5-day pattern

    SPI trading below the Monthly 50% level, but as pointed out in the weekly report, I had an expectation that there was a possibility that the first 2-days could be UP.

    Above the 5-day filter channel @ 4654, with the expectation that the market would find support and try and continue higher towards Monday’s highs…

    Early support but the close below 4664 broke the critical level today, pushing the SPI lower into the close.

    At this stage the market remains trading below the higher timeframe 50% levels with an expectation of a larger trend reversal, and if there is going any higher moves this week, it will have to be on the back of US markets going higher.

    And it’s not a forgone conclusion, as the DOW has a lower Weekly close below the Weekly 50% levels, which can often push the market lower on Monday.

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