Index & Stock Rpts 17th April 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) 16th April 2010 Daily recap

    "Thursday's price action and small range day reversal often leads to a lower Friday close back into the 'red' levels, as per Yesterday's report.

    Short from the highs downside targets are Friday's lows"

    S&P Weekly and Daily

    Precise tops on Thursday often lead to a reversal pattern down into the daily lows the next day, as per Monthly highs resistance patterns

    That's the first time in 7 weeks that the S&P has revisited the Daily lows.

    And in my opinion continue down as the month comes to end.

    However, I would like to see a double top early next week.

    Weekly report out later.....

    SPI Daily 16th April 2010 recap

    Trend guide 5015 with first target the R42 lows @ 4995.

    SPI Weekly and Daily

    Expectation that the SPI would have a downward bias, but around 4995 it completed the R42 range from yesterday, which often is enough for the SPI during the day session.

    Both the October highs in 2009 & the January highs in 2010 aligned with the monthly highs, and both ‘topped’ out on Thursday.

    The exact same pattern has occurred during these quarterly highs with Yesterday’s 'tops', and the highs in US markets (Read previous US recap report below), and so far the usual 8.5 reversal during Globex hours.

    To help validate the potential of further downside, Friday needs to continue lower in the DOW and S&P and not have another higher Friday close.

    And the SPI opening below next week’s 50% level.

    Currently the highs in April is acting as resistance, as was the case in March @ 4939

    Weekly report out tomorrow, how to make the most of any further downside.

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  • DOW & S&P 500 15th April 2010 recap

    "There are currently daily high breakout patterns in both markets, which should push both the DOW and S&P higher on Thursday

    DOW shouldn’t move beyond the highs @ 11108, and S&P shouldn’t move beyond 1210

    However, Thursday can often remain flat, trading between the highs and the daily 50% level"

    DOW S&P Daily range

    Thursday has continued upwards and both markets haven’t remained below both upper levels, but without a reversal back towards the Daily 50% level during market hours.

    If price continues lower during globex hours, then I’ll keep an eye on for Friday to continue lower towards the daily lows.

    Thursday’s price action has completed the break and extend pattern for the DOW into April's highs @ 11082

    SPI Daily 15th April 2010 recap

    "Therefore our trend guide today is 5035.

    Support 5024

    Below 5024 downside 5010"

    SPI Weekly and Daily range.

    Same pattern as Monday @ 5006, Wednesday @ 5014 and Today @ 5035, where the 10-day range has capped the highs for the current day.

    Support was based on the higher timeframe levels:- Weekly and daily highs @ 5022-24.

    Below and bias was to move back into the 5010 and fill the gap.

    DOW (Futures) 14th April 2010 recap

    "My ideal pattern today would be for price to come back down and retest the support levels and then continue into a higher daily close on Wednesday.

    Support the DOW @ 10934

    A higher daily close should then continue into a higher high on Thursday providing an ideal set-up for matching resistance levels & the monthly highs @ 11082"

    DOW Weekly and Daily

    DOW didn’t move down into support but has followed the higher high expectation with a breakout of Wednesday’s highs.

    April highs on the DOW should complete on Thursday @ 11082.

    This completes the break and extend pattern from March highs @ 10788 into April’s highs.

    SPI Daily 14th April 2010 recap

    "Based on the current price action the bias is to continue upwards.

    Key level on the day session is 4985...If above the bias is to continue higher towards 5010-13…

    And likely to continue up during sycom towards 5023"

    SPI Weekly and Daily range (24 hour)

    Early bias to continue up from the lower channel and confirmed with the close above 4995:- continuation towards the highs on Wednesday in late trading and likely towards 5023-49 in sycom (depending on US markets).

    S&P (e-mini ) 13th April 2010 Daily recap

    "Monday’s down move wasn’t unexpected because of a retest Friday’s breakout will normally align with the 5-day 50% level and then continue higher the next day.

    That means the 50% levels are support for a higher daily close back around the highs on Tuesday"

    S&P Weekly and Daily range

    Support at the Daily 50% level and move back towards the highs on Tuesday

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  • SPI Daily 13th April 2010 recap

    "SPI Trading around higher timeframe resistance levels. At the moment I still favour A or B playing out.

    Resistance 4996

    Support 4966 (42 points down from yesterday’s highs)"

    SPI Monthly and Daily range….

    Choppy around fair value today @ 4985 in early trading, with a bias to move lower and complete the R42 range downward, as per spiral filter @ 4998 (below the pink)

    Random support @ 4966

    S&P (e-mini ) 12th April 2010 Daily recap

    Weekly and Daily range

    Breakout of Friday saw an extension pattern into Sunday's highs during globex trading and a drift back down, but Monday ended up a flat trading day of 4.25 range rotations.

    Current price action looks like a retest Friday's breakout and Daily 50% level @ 1189

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  • SPI Daily 12th April 2010 reacp

    Market dynamics in the Monthly and Weekly are pointing to higher prices: - 5023 (resistance)

    Monday's highs @ 5006 random resistance

    Random support 4980

    SPI Weekly and Daily.

    Expectation of the market moving towards 5023, but Monday’s highs capped the rise.

    Another tight trading day after hitting Monday’s highs (5006) in early trading, but price couldn't complete a minor range of 21 points towards support.

    Most likely 5023 will reach in sycom or tomorrow.