Index Futures & Stock Reports 2 JAN 10

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

SPI Daily 31 December 2009

SPI Weekly and 5-day pattern

I want to wish everyone a happy, prosperous and rewarding 2010....

S&P (e-mini ) 30th Dec 09 recap

"Whenever Monday and Tuesday stall around their highs and reverse down into the 5-day 50% level, often Wednesday moves into a trending day upwards"

Premium Report

S&P Weekly and 5-day pattern

Even though price is trading around the higher timeframe resistance levels (1126-1128), the price action in the first 2 days often suggests that Wednesday will close higher, and often with a breakout of the Wednesday highs:- trending day

Normally price wouldn't push down as far or break 'yellow' support.

Maybe that Trending day upwards might continue in after hours trading.

SPI Daily 30 December 2009 recap

"The SPI will complete the R42 range @ 4863 and then the critical level on the SPI is going to be 4850- thereafter.

Today's trading is based on whether the market continues to follow the 5-day pattern into Wednesday's highs .

Or Wednesday reverses back down towards the 5-day 50% level @ 4781

Random resistance Weekly highs @ 4787"

SPI Weekly and 5-day pattern.

There was no probability on the direction today, other than trading either side of 4850.

Above and expectation that the market was following the 5-day pattern higher (42 points)

Below and expectation that price would complete the move towards the gap closure @ 4815 and then continue down towards the 50% level @ 4781.

Except once below 4850, it just managed to complete the R42 @ 4828 and then consolidate.

S&P (e-mini ) 29th Dec 09 recap

"I don’t have a high probability set-up other than using these upper levels and Tuesday's highs as random resistance zones 1126-1128...

Below the 50% level and it's a 1 day reversal back into the Weekly 50% levels"

Premium Report

S&P Weekly and 5-day pattern

Price is trading around the higher timeframe levels 1126-1128, providing resistance but not following through with more weakness, other than a rotation back into the Yellow trend level @1122

Any continuation down would need to see price trading below the 50% level on Wednesday for a rotation back towards the Weekly 50% levels @ 1109

However, even though these levels are seen as targets and can play a role as resistance levels for a number of days, my expectation is that because the current price action is occurring at the end of a number of important timeframes, price is most likely going to continue upwards in the first quarter, as resistance levels shift upwards.

  • Daily Trading Set-ups & Analysis
  • Index Futures SPI, DOW S&P, & Forex
  • Subscribe to the Trader Premium

  • SPI Daily 29th December 2009 recap

    "Breakout of the high from last Thursday should continue higher into Tuesday's high:- 4851.

    Weekly highs @ 4878, with a potential move towards the December highs @ 4909-19 by Wednesday-Thursday.

    Trend guide 4826"

    SPI Weekly and 5-day pattern

    Early resistance around the highs, but failure to move down 42 points...

    Instead finding support @ 4826 and then continuing higher, as part of the move towards the December highs.

    S&P (e-mini ) 28th Dec 09 recap

    "Monday's highs and Weekly highs are random resistance levels, but I'm not expecting a major reversal down from these levels on Monday"

    Premium Trader

    S&P Weekly and 5-day pattern

    Monday has completed my 4th Quarter target @ 1126, which was part of the November's Monthly 50% level support and expected 2-month wave pattern upwards.

    Resistance on Monday but no follow through on selling suggests that because this is the last week of the Quarter prices can continue higher early in the 2010, as there is a shift in market dynamics.

    At this stage there is resistance around these levels, but I don't have a high probability pattern that suggests a major reversal down, but I will be looking for any hint within the 5-day range.

    S&P 500 larger cycles

    S&P 500 has reached the 4th Quarter target @ 1126.

    With only a few days to go until 2010, price is most likely to continue higher into 2010, but it will be hitting a number of resistance levels, and I will be looking for potential reversal patterns back into higher timeframe 50% levels.

    Important patterns in 2009 were the lows in the first quarter, the reversal pattern into the 2nd quarter 50% level. The 3rd Quarter 'Thrust' pattern away from the 50% level. The October highs in the 3rd quarter and reversal down into the November 50% levels....

    And lastly the 2-month wave pattern upwards from the November 50% level and into 1126.

    2010 should be an interesting year....

    • Daily Trading Set-ups & Analysis

  • Index Futures SPI, DOW S&P, & Forex

  • Subscribe to the Trader Premium