Index & Stock Reports 20 FEB 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/

US Dollar INDEX, AUD/USD, EUR/USD, GBP/USD

http://www.forexspread.blogspot.com/


OIL Futures:- OIL BOIL

http://www.oilboil.blogspot.com/



Note: Weekly BHP, RIO, and Banking Report Update




Posted by

S&P (e-mini ) 19 FEB 2010 Daily recap

"As per expectation, I think US markets will continue higher next week, however my preferred pattern would be the see price come down and retest support levels.

There are two possible patterns today based on current market dynamics…

1. continues into a higher high on Friday using the Yellow support levels

2. moves down on Friday and retests the breakout from Tuesday"



S&P Weekly and Daily range

S&P follows a higher Friday close and with the expectation that price will continue higher into next week's highs.

However, I'm still looking for a short-term reversal into support levels.

Weekly report out now


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    • Posted by

    SPI Daily 19th February 2010 recap


    SPI Weekly & daily range

    Consolidating pattern under the February 50% levels.

    Higher open and spiral filter @ 4646 kept the market 'capped' with a bias to push down into the 50% levels.

    Weekly report out tomorrow


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    • Posted by

    S&P (E-minis) 18th Feb 2010 Recap



    S&P Weekly and Daily range

    S&P completes the move into the Weekly highs @ 1105 and sells down into the close...

    Either price continues down 1 more day towards next week's 50% level,which is what I would like to see happen as part of the reest of Tuesday's breakout.

    or Friday continues with a with an UP day into a higher daily close.

    Posted by

    SPI Daily 18th February 2010 recap

    SPI will be hitting a number of resistance levels in the day session based February 50% levels @ 4664.

    If that's the case then the SPI is going to stall around today's 5-day highs and drift lower.

    Note:- there are two patterns at play this week...

    1. trending weekly timeframe into higher highs by Friday (SPI around 4760 by next week)

    2. Hit resistance on Thursday and price moves back down towards the 50% level over the next 2-days (lower Friday)

    This is part of a retest of the breakout from Wednesday






    SPI Weekly and Daily range

    At the start of the day I expected the SPI to push up towards the daily highs @ 4673 and then reverse back down 42 points towards the 50% levels @ 4605-4599.

    This is part of a break and extend pattern from yesterday, and then the market reverses back down towards the 50% levels

    Instead the latter occurred, higher open and down into support and then a late rise that couldn't complete the R42 range towards 4648 because of the Weekly 50% level @ 4636

    At this stage the market remains below the higher timeframe 50% levels, and any advances will be based on US markets moving higher.

    or the potential to close Wednesday's gap if US markets have a lower daily close.



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    • Posted by

    S&P (e-mini ) 17 FEB 2010 Daily recap

    "Yesterday’ price action should continue towards the Weekly highs.

    We have is a breakout pattern in the Tuesday’s range that should extend up towards Wednesday's highs"

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    S&P Weekly and Daily range

    Based on last week’s price action and Tuesday’s breakout of the daily highs I feel US markets will continue higher into March (medium term)

    There are two patterns that can play out for the rest of the week.

    1. This week continues to trend into higher highs by Friday

    Or my preferred pattern (#2)

    2. Weekly highs @ 1105 stalls price and the next 2-days drifts back down into the 50% level and matching Tuesday high breakout, and then continues higher the following next week.


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    • Posted by

    SPI Daily 17th February 2010 recap

    "SPI will be opening around the highs on Wednesday.

    If above 4592-97 the expectation is that the SPI will follow the spiral filter into the Weekly 50% level @ 4536"

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    SPI Weekly and Daily range.

    First time since last year that the SPI had opened above the 5-day highs and it wasn’t coming back, as it reversed back into the Weekly 50% level @ 4635.











    Posted by

    S&P (e-mini ) 16 FEB 2010 Daily recap

    S&P Weekly and Daily range

    Weekly support @ 1074 and a push upwards into the highs on Tuesday has resulted in a breakout in late trading.

    After Friday's reversal upwards this breakout isn't unexpected, and price should continue towards 1105 this week.




    Posted by

    SPI Daily 16th February 2010 recap

    "The position of the channel suggests that Tuesday looks like it's going to breakout of the consolidating pattern

    Above 4540 and Tuesday's pattern is to follow the channel highs @ 4571

    However, I still have Tuesday as part of the 2nd day reversal"

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    SPI Weekly and Daily Range


    Same pattern as last Friday, with the push upwards into the daily highs on Tuesday @ 4571 and a 42 point reversal back down.

    The market is trading above the higher timeframe support levels and the 3-day BUY cycle.

    And as mentioned yesterday…

    Because of Friday's price action I always look for the first 2-days of the new week to either continue down from resistance or consolidate.

    Because there's no resistance I'm treating Monday-Tuesday as consolidating trading days using the levels in the daily range"

    Tuesday completes the 2nd day stall & consolidating pattern.

    Any further gains this week are going to be dictated by US markets and trading on the side of 4553.






    Posted by

    SPI Daily 15th February 2010 recap

    "Because of Friday's price action I always look for the first 2-days of the new week to either continue down from resistance or consolidate.

    Because there's no resistance I'm treating Monday as a consolidating trading day using the levels in the daily range"

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    SPI Weekly and 5-day pattern

    Monday ends up consolidating within the Daily range.


    Posted by
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