Index & Stock Rpts 1st MAY 2010 Weekly

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



  • Daily Trading Set-ups & Analysis
  • Index Futures SPI, DOW S&P, & Forex
  • Subscribe to the Trader Premium
  • http://www.datafeeds.com.au/premiumtrader.html
    • Posted by

    S&P (e-mini ) 30th April 2010 Daily recap

    S&P Weekly and Daily

    Friday closes down and closes out the Month below the April highs @ 1201.50, but without the expected reversal towards the monthly 50% levels @ 1132.

    Friday's 'down-day' wasn't part of an expected move because of the price action this week...

    Weekly low support and Thursday's close above the Weekly 50% level @ 1199 and the daily 50% level would normally send prices upwards into higher highs using 1199 as support.

    US markets down day on Friday has the Australian market completing the reversal patterns from the April highs into the Monthly 50% levels

    Weekly report out later





    • Daily Trading Set-ups & Analysis

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

  • Subscribe to the Trader Premium

  • http://www.datafeeds.com.au/premiumtrader.html
    • Posted by

    SPI Daily 30th April 2010 recap

    "SPI Trading below the Weekly lows @ 4831 and whilst below those levels I’m expecting a move down 21-42 points"



    SPI Weekly and Daily range

    4830 was the critical level today.

    There is a Weekly low breakout @ 4831, which in theory should remain below that level this week and then continue down next week completing the break & extend pattern into next week’s lows, which is part of the larger timeframe cycle rotation towards monthly 50% level.


    However, if above 4831 today then my expectation was a gap fill towards 4876 and possibly a swing towards the 3-day highs @ 4921.

    Therefore it was a simple case of trading on the side of 4830 and take the first 21 point move down.

    If US markets continue higher on Friday based on positive GDP numbers, then the GAP fill will occur on a higher Monday open around next week’s 50% level.






    Posted by

    S&P (e-mini ) 29th April 2010 Daily recap

    There are two patterns at play….

    1. sells down on Thursday into the daily lows, Thursday’s lows are seen as targets not as support.

    2. pushes down from the daily 50% level and into the Yellow levels, but ends up closing higher.




    S&P Weekly and Daily Range...

    S&P continues back towards the highs after finding support around this week’s lows and crossing over the daily 50% level on Thursday.

    Today's price action wasn't part of my overall view, as I was leaning towards Set-up #1 occurring and heading down towards the lows.

    This was based on April high resistance, and for the first time in 8 weeks trading below the Weekly 50% level @ 1199

    Whenever a reversal pattern occurs, often there is a 1 day counter-trend move (higher Daily close Yesterday) and then the trend continues down into a lower Friday close using the daily 50% level as resistance.

    Often that resistance can last into the Yellow (#2) and then closer higher, (8.5 point reversal) but that didn't happen either .








    Posted by

    SPI Daily 29th April 2010 recap

    Daily close below the lows yesterday @ 4830 should extend downward today, which means I favour that R42 range to complete with a downward bias @ (42 points from today's highs) @ 4788



    SPI Weekly and Daily

    SPI opened below yesterday's lows @ 4830 and the expectation that a breakout pattern would normally continue downward until it moves into today's range.

    Once price completed the move downward @ 4788 Thursday ended up consolidating around 4794.

    1 day to go until the end of the month and target remains the April 50% levels


    • Daily Trading Set-ups & Analysis
  • Index Futures SPI, DOW S&P, & Forex
  • Subscribe to the Trader Premium
  • http://www.datafeeds.com.au/premiumtrader.html
    • Posted by

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

    "S&P is already trading around the Weekly lows.

    There is a breakout of the lows on Tuesday which should push downward into Wednesday’s lows, and potentially close higher:- 1 day counter-trend move"    .




    S&P Weekly and Daily range…

    Early resistance on Wednesday moving down 8.5 points, but failing to move into Wednesday’s levels, as the Weekly lows are currently supporting the market.

    S&P is still trading below the Weekly 50% level (first time in 8 weeks), so there is a possibility that there is bias for a lower Weekly close by Friday.

    Ideally using a higher daily open and ‘resistance’ if the S&P continues upwards during after hours trading.




    Posted by

    SPI Daily 28th April 2010 recap

    "Support 4796

    Resistance 4830.

    Above 4796 and the SPI will try and swing back towards 4830, (Wednesday’s low but struggle to rise higher"



    SPI Weekly and Daily range.

    Lower open and 42 point swing from support (4796) into resistance (4830) and consolidation.

    There is a breakout of the daily lows on Wednesday @ 4830, which should continue to push lower tomorrow (overnight) and complete the April 50% level by Friday.

    That will depend on whether the S&P has a 1-day counter-trend move upwards tonight, or follows the same breakout pattern in the daily range (lower low)









    Posted by

    DOW (Futures) 27th April 2010 recap


    DOW Weekly & Daily range

    Expectation of a reversal pattern last week ended up being delayed, and is now taking place.

    Below the Weekly 50% level and breakout of the daily lows on Tuesday should see a continuation towards the March high breakout @ 10787.

    And a rotation towards the MAY 50% level.

    • Daily Trading Set-ups & Analysis
  • Index Futures SPI, DOW S&P, & Forex
  • Subscribe to the Trader Premium
  • http://www.datafeeds.com.au/premiumtrader.html
    • Posted by

    SPI Daily 27th April 2010 recap

    Expectation that price should push upwards early and complete the range @ 4917, and then follow a short-term resistance pattern of 21 to 42 points.

    Resistance 4925

    Support 4880.



    SPI Weekly and range.

    Today:- Early rise and reversal pattern from the R42 high down into support @ 4880 and a 21 point upswing off the low and then a rejection @ 4900 and more weakness.


    SPI is currently following the reversal pattern from the April highs towards the Monthly 50% levels, and with only a few days remaining most likely the 50% levels in MAY.

    Support at the previous Weekly low @ 4863 has seen a short-term counter-trend move into the Weekly 50% level and a continuation back down as part of the larger trend reversal.



    • Daily Trading Set-ups & Analysis
  • Index Futures SPI, DOW S&P, & Forex
  • Subscribe to the Trader Premium
  • http://www.datafeeds.com.au/premiumtrader.html
    • Posted by

    DOW (Futures) 26th April 2010 recap

    "Based on the current price action I feel it’s best to focus on Range bar trading on Monday using support & resistance.

    41 & 85 points DOW"



    DOW Weekly and daily range

    With Friday’s close above the highs and my expectation of a double top ‘sell’ pattern failing to eventuate, for this week it’s back to intra-day price patterns of range bars using support and resistance.

    Early rise up into Monday’s highs and minor resistance, and should continue down and complete the 85 point range in after hour trading.

    For the past 7 weeks the market has remained within the boundaries of the Weekly highs and Weekly 50% level.







    Posted by
    Subscribe to: Posts (Atom)