Index & Stock Rpts 15th MAY 2010 Weekly

Weekly Index & Forex Reports out now...

Australian Index (SPI) Futures

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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

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    • Posted by

    S&P (e-mini ) 14th MAY 2010 Daily recap

    "As per Weekly report there is an expectation of a lower Friday close.

    Potential pattern to trend down towards the Weekly 50% level and the Daily lows on Friday"



    S&P Weekly and Daily Range

    Friday completes the 2-day reversal back down after Thursday’s top and 4-th day sell pattern.

    A number of precise text book patterns over the past 2 weeks.

    Last Week saw a Weekly low breakout and trend spike down into the
    MAY lows.

    This week saw the 3-day counter-trend move beginning from the
    Weekly 50% level and retesting the previous Weekly low breaks and then
    a Thursday sell pattern with the expectation of a lower Friday close.

    Normally Thursday has a much greater range on the
    downside (trading below the monthly 50% levels once again), but Friday’s break verified the downward move into the Weekly 50% level and Friday's lows





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    • Posted by

    SPI Daily 14th MAY 2010 recap

    "Based on the Spiral filter and Weekly 50% level @ 4621 I'm favouring a down day with a minimum move of 42 points"



    SPI Weekly and Daily range.

    Slow trading day on Friday with most of the day consolidating below 4621 and the Weekly 50% level. And rotating in 21 point ranges.

    SPI failed to complete the 42 point range down towards 4573





    Posted by

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

    "Today is Thursday, and if my analysis is correct based on repeating patterns that means US markets should close lower by Friday.

    The 4th day sell pattern on Thursday’s higher open and not rise beyond the 3-day cycle @ 1175"



    S&P Weekly and Daily range

    As per my Weekly report on the 8th MAY….

    "I have seen these exact patterns continue higher and move into a 3-day UP move to retest the previous Weekly lows.

    That means that by Wednesday price can be trading above the MAY 50% level, but from Thursday onwards look for a move back down."


    This week has followed a number of probability patterns with the 3-day UP move to retest the previous Weekly low breakout (3-day counter-trend move) and then ‘sell’ on Thursday.

    However, normally Thursday has a much greater range on the downside (trading below the monthly 50% levels @ 1148-52 and also the Daily 50% level.

    At this stage price is still trading above those levels, therefore a lower Friday close isn’t set in stone.

    Any further weakness on Friday and likely reversal pattern is towards the Weekly 50% level @ 1127 & daily lows









    Posted by

    SPI Daily 13th MAY 2010 recap

    Potentially there can be a gap fill and back to yesterday's highs @ 4623 in early trading

    If trading above 4621-28 the bias is for the SPI to move upwards 42 points into 4662, but then it becomes a random pattern (resistance)"



    SPI Weekly and Daily Range…

    Gap fill on open and consolidation above 4628 with a late move upwards on Thursday towards the highs, along with a Daily close above the 3-day cycle @ 4661.

    IF US markets continue to trend upwards on Thursday, then the SPI will be back towards the MAY 50% level by tomorrow.



    Posted by

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

    "This week's expectation was a 3-day counter-trend move to retest the previous Weekly lows breakout.

    Above the MAY 50% levels, then it becomes a random pattern with an upward bias"

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    S&P Weekly and Daily range

    3-day counter-trend move into Wednesday has completed, and now it gets interesting.

    As per my Weekly report on the 8th MAY….

    "I have seen these exact patterns continue higher and move into a 3-day UP move to retest the previous Weekly lows.

    That means that by Wednesday price can be trading above the MAY 50% level, but from Thursday onwards look for a move back down."







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    • Posted by

    SPI Daily 12th MAY 2010 recap

    "If the SPI opens above 4570 then it's is moving towards 4592, and then towards the highs @ 4628"



    SPI Weekly and Daily range.

    SPI opened @ 4570 and proceeded to move towards the highs, completing the first range @ 4592 and then a 2nd R42 range upwards @ 4620.

    The rest of Wednesday remained range rotating with a double R42 move down into the lows and then consolidation around 4585.







    Posted by

    S&P (e-mini ) 11th MAY 2010 Daily recap

    "At this stage I'm treating Tuesday as part of a 2nd UP day, as long as it remains above the Yellow filter @ 1141

    Random length is to complete the Weekly low patterns @ 1168-73"



    S&P Weekly and Daily range.

    The Weekly report suggested a 3-day UP move to retest the previous weekly low breakouts.

    The retest has completed by the 2nd day with today's rise up from 1141 and into 1168-73.







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    • Posted by

    SPI Daily 11th MAY 2010 Recap

    "This week's up move is based on price retesting the previous Weekly low breakout @ 4697 in the first 3-days.

    Today:- If the SPI opens or is trading below 4650 the bias is to move down into support levels:- 4617, and then likely to continue upwards"




    SPI Weekly and Daily range.

    SPI was trading above the channel highs so the expectation was that price would come down into 4617, find support and then continue back towards @ 4697.

    First part of the day played out, but support failed to hold in afternoon trading sending the SPI into a lower Daily close






    Posted by

    S&P 500 Daily 10th MAY 2010 recap

    Weekly report:- potential 3-day rally until Wednesday, as price goes and retests the previous Weekly low breakout @ 1168-1173




    S&P Weekly and Daily range.

    Monday gapped open above the Weekly and Daily range 50% levels and has continued higher, as part of a potential 3-day UP move.

    This up move is based on retesting the previous Weekly low breakout.

    And that retest of the previous Weekly low breakout @ 1168-1173, is occuring quicker than expected


    Posted by

    SPI Daily 10th May 2010 recap

    SPI Monthly, Weekly and Daily range

    Expectation that this week would begin with a 2-3 day swing back towards the MAY 50% levels, as part of the MAY low support.

    The SPI opened much higher than expected ,but whilst above the MAY lows the move was back towards the daily highs and a continuation towards the monthly 50% levels





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