Index & Stock Reports 27 FEB 2010 Weekly

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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  • S&P (e-mini ) 26 FEB 2010 Daily

    I favour a move into higher highs on Friday using the 50% levels as support

    However, it wouldn't surprise me either if Friday ends up a trendless and choppy day until next week.


    S&P Weekly and daily

    S&P moves into support and pushes into a higher Friday close, but for most of the day it was choppy and trendless

    Weekly report out soon.

    SPI Daily 26th February 2010 recap

    Based on the current price action and the reversal off Friday's lows, this could lead to a 2 day up move early next Week on Monday and Tuesday.

    However, it might struggle to rise higher than 4612 today.


    SPI Weekly and Daily range.

    Today’s trading couldn’t break through resistance levels @ 4612 in early trading, and price was sent back down into 4581.

    Buying came into the market after 3pm with a late push upwards and probably higher next week (Monday-Tuesday)

    Support levels holding on the SPI, and bullish price action in US markets can set-up that pattern,

    As it won’t take much for Monday to open above key levels and continue higher thereafter.

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

    There are two possible patterns that can occur for the rest of February.

    1. Follow my view of heading higher into the Weekly highs by Friday

    2. Choppy price action for a number of days (consolidation until March)

    Thursday consolidates, which means prices moves down into the lows.

    S&P Weekly and Daily range.

    My preferred pattern was to see Tuesday’s low support price and then continue higher from Wednesday, Thursday & then Friday into the Weekly highs @ 1121.

    However, selling during Globex hours before the cash market opened set-up a push downward in the lows.

    Thursday ended up moving down into the Daily lows, which matched the lower Weekly 50% level @ 1086 and we end up with a consolidating pattern within the 5-day range until March begins. (next Week)

    SPI Daily 25th February 2010 recap

    Based on current price action the Aussie market looks like consolidating until March (below the February 50% level)

    Resistance 4680

    Support 4642-46

    Thursday looks like another consolidating trading day.


    SPI Weekly and Daily range.

    Thursday looked like a consolidating trading day, but it ended up a trending day back down into Thursday’s lows, the 3-day cycle lows @ 4581, and the Weekly 50% level @ 4565

    I wasn’t expecting that down move to continue until price failed to hold support levels during the day

    Currently the SPI is consolidating below the monthly 50% levels, and we have seen price come back down into support levels.

    Normally I would say that this reversal pattern will continue higher tomorrow, however the short-term bullish patterns in the S&P on Wednesday haven’t held support levels during globex hours.

    S&P (e-mini ) 24 FEB 2010 Daily recap

    "Because of Tuesday's support I would have to favour an UP day on Wednesday...

    But Wednesday might struggle to rise higher than 1104.25"

    Premium Report

    S&P Weekly and Daily range

    Wednesday followed the probability pattern into 1104.25, this should be a partial exit zone from Tuesday's lows.

    I do have an expectation of the market moving towards 1121 by Friday, as long as price remains above 1098, and the trend continuing higher during this Quarter.

    Either the trend continues higher on Thursday & Friday as part of the current patterns....

    or US markets decide to move into a sideways consolidating pattern until March begins (5-day pattern swing trading)

    Regardless of how bad the fundamentals look for the US economy,there currently aren't any 'probable bear-patterns', or any appearing on the horizon in US markets other than short-term 1-2 day reversal patterns.

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  • SPI Daily 24th February 2010 recap

    I'm bullish on Wednesday, but because of the brown filters @ 4690-94, I’m not expecting further upside

    Ideal pattern would be to move down into support level and continue upwards :- 42 points

    Support:- 4650-55

    SPI Weekly and daily range.

    I wasn’t expecting a down day at the start unless price had hit the resistance levels early in the day

    My view was to remain within the range completing a 42 point upwards using support @ 4550-55

    Instead the opposite occurred breaking support and moving down, with today's open and push down from the February 50% level @ 4664.

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  • S&P (e-mini ) 24 FEB 2010 Daily recap

    "Expectation US markets are going higher, along with the price action trading above last Week's Weekly highs

    However, I still have the view that US markets are currently in a 2-day stall pattern.

    For the 2-day stall pattern to play out it needs to be trading below the 5-day 50% level and spiking down into Tuesday's lows (1093)"


    S&P Weekly and Daily range.

    As per Weekly report, expectation that this week would begin with a 2-day reversal, and the 2nd day reversal pattern has played out with Tuesday’s lows holding support.

    Based on current price action I would have to favour a move towards the Weekly highs by Friday.

    Price now needs to be trading above 1098 and cross-over the Daily 50% level on Wednesday to confirm my view.

    SPI Daily 23rd February 2010 recap

    "I’m bullish on our market, but on Tuesday I’m treating it as a consolidating trading day between 4675 & resistance

    There is a breakout of Monday therefore I have the view that Tuesday will move higher and complete the R42 range"


    SPI Weekly and daily range

    Precise movement today on the SPI trading between the support levels and upper resistance levels with a 42 point range on the upside.

    S&P (e-mini ) 22 FEB 2010 Daily

    "Expectation the trend is heading upwards this week..

    However, as pointed out in the Weekly report, there is a potential 2-day stall/reversal pattern"


    S&P Weekly and Daily range

    Flat trading day on Monday failing to move into Monday's highs.

    Today is viewed as day 1 of the 2-day stall pattern

    SPI Daily 22nd February 2010 recap

    I’m currently bullish on Markets in the short-term because of the intermediate patterns in the market:- double monthly lows and 3-Quarter 50% level.

    US markets are also above the higher timeframe 50% levels.

    The SPI isn’t above those levels at the moment (4664) , but based on the closing price in sycom the market will open around the Monthly 50% levels.

    A bullish pattern should continue higher on Monday and breakout of the 5-day range and continue upwards.

    Premium Report.

    SPI Weekly and 5-day pattern

    Breakout of the range on Monday should complete the move into 4708 (42 points)….

    any further gains will be on the back of US markets.