Index & Stock Reports 30 Jan 2010

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 29th January 2010 recap

    "The market might struggle to rise higher than 4593-4602 today, with the view that price will push down and complete the r42 point range.

    Friday’s lows random support.

    Below 4550 and price is pushing down towards 4514"

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    SPI Weekly and 5-day pattern

    US markets reversed down on Thursday and now trading below the January 50% levels, this didn’t help my view that there was going to be a short-term 2-day move back into resistance before the next move down in February.

    The SPI opened below 4593 and continued down into Friday’s lows, (failure to hold @ 4552) and then continued towards 4514 completing another R42 range.

    Depends on the Price action in the US on Friday:- Friday's daily low & Weekly low support?

    or break and continuation down, as price is below the monthly 50% levels?


    If the latter occurs, then the SPI will be getting close to my target of 4300 in



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    • Posted by

    S&P (e-mini ) 28 JAN 2010 Daily recap



    S&P Weekly and Daily range

    S&P continues to remain within the daily range whilst trading around higher timeframe support levels.

    I'm not surprised by Thursday's reversal back down into the lows, but I would have preferred price to have hit the Weekly 50% level @ 1108 (current resistance levels)



    Posted by

    SPI Daily 28th January 2010 recap

    As per Yesterday’s report…

    “Depending on the price action in US markets on Wednesday, this current price action completes the Break and extend pattern from the previous Weekly lows down into this Week’s lows @ 4602.

    Because of my view that the market is range bound this week, I now have the expectation that the SPI will try and swing back towards the Weekly 50% levels by Friday”




    SPI Weekly and Daily range.

    Yesterday’s low on Wednesday and today’s open above 4602 provided the first stage of price rising upwards, along with using 4611 as secondary support

    Upside short-term target @ 4650, but sadly more buying towards 4668 didn’t eventuate during the day session.

    1-day to go until the next month begins, and support levels for January disappear and shift lower.

    However, there are still a couple of days to go until US markets move into February and they are still above their Monthly 50% levels.




    Posted by

    S&P (e-mini ) 27 JAN 2010 Daily

    "Market still trading above the January 50% levels and I have a view that as it gets closer to the end of the week price will trading around the Weekly 50% levels.

    My current view remains a tight 5-day range until February begins and the next move from next week.

    Weekly lows are seen as support"



    S&P Weekly and Daily range.

    Sideways price action with a late push down towards the Weekly lows and then buying support has kept the S&P in a tight pattern range this week

    As per my view, my expectation is that the S&P will continue to try and make it’s way towards the Weekly 50% level by Friday.



    Posted by

    SPI Daily 27th January 2010 recap

    "Support around the levels of 4602-14, however this support disappears at the end of this week.

    Therefore I'm still treating the SPI as range bound between support and the Weekly 50% levels.

    Spiral filter @ 4638"

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    SPI Weekly and Daily range

    Price opened on the first support level @ 4614 but failed on two occasions to break above the spiral filter @ 4638.

    The market was then pushed down into the Weekly lows @ 4602 ( 42 points down), and then a late push down towards Wednesday's lows.


    As per Weekly report:- expectation that market will find support but not necessarily move higher, instead remaining in a tight 5-day range around support levels.

    Depending on the price action in US markets on Wednesday, this current price action completes the Break and extend pattern from the previous Weekly lows down into this Week’s lows @ 4602.

    Because of my view that the market is range bound this week, I now have the expectation that the SPI will try and swing back towards the Weekly 50% levels by Friday, which matches the February 50% levels next week.

    That will have to be helped by a higher daily open above today's highs, otherwise it's following the larger trend reversal lower towards January's lows @ 4514.


    At this stage I still favour a double monthly pattern down into the Feb lows, because the current price action is acting like it should continue down, but I would prefer the market continue down from resistance in February and not just continue down this week.

    The further it goes down in January, the further it goes down in February.



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    • Posted by

    S&P (e-mini ) 26 JAN 2010 Daily recap

    "US markets trading around support levels (Weekly lows & January 50% levels)

    At this stage I'm still treating US markets as range bound between the lows and the Weekly 50% levels"


    S&P Weekly and Daily range

    S&P supported, and whilst the market is traing around support I have an upwards bias towards the Weekly 50% level by Friday.

    Expected sideways patterns between support and the Weekly levels.





    Posted by

    S&P (e-mini ) 25 JAN 2010 Daily recap

    "Because of those Weekly cycles I will continue to use the Weekly 50% levels as resistance for the next 5-days...

    There's a Friday low breakout, which should continue down on Monday or at least remain 'flat'. (above yellow)"

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    S&P Weekly and daily range

    Flat trading day on Monday after testing the Friday low breakout @ 1103





    Posted by

    SPI Daily 25th January 2010 recap

    "SPI trading around Support levels and there is an expectation that the SPI will remain range bound over the next 5-days between support and 50% levels.

    The Trend bias is 4625"

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    SPI Monthly and Daily range..

    SPI opens on support and continues to swing upwards from the Daily lows on Monday towards the 50% levels:- 2x 42 range

    At this stage the market is supported, but the next trend will develop when the next month begins in 5-days time.

    At this stage it’s too early to tell whether the market closes higher and begins another 'thrust' upwards using the February 50% levels as support.

    Or opens below those levels next week and continues down into the February lows.

    A lot of that will depend on the price action in US markets into the end of the week.





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