Index & Stock Rpts 12th June 2010 Weekly

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    • Posted by

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

    "Two patterns for Friday....

    #1 Friday's highs @ 1093.50 pushes price back down into the daily 50% level. (minimum reversal 8.5 points


    #2 Support 1070.25 (5-day 50% level)"



    S&P Weekly and Daily range

    Flat trading day failing to reach the highs or support.

    Probable path next week is the June 50% levels and 3-week highs....

    However, current price action can remain consolidating within the Daily range.



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    • Posted by

    SPI Daily 11th June 2010 recap

    June 50% level @ 4519. & Spiral filter @ 4515 (resistance)

    Initial move is down towards 4489 but it may end up supporting the market today.



    SPI Weekly and Daily range.


    Early resistance @ 4519 and support around the 5-day highs on Friday @ 4489, resulting in a consolidating trading day around the highs

    Could continue higher @ 4547-59 during sycom hours.





    Posted by

    S&P (e-mini ) 10th June 2010 Daily recap

    US markets continue to consolidate below higher timeframe levels whilst being supported within the Weekly timeframe @ 1049

    However, above the blue and daily 50% levels and there is less resistance until the Weekly 50% levels @ 1083.50



    S&P Weekly and daily range.

    This week has seen the S&P be supported above 1049, and yesterday was the first day in a number of days that the daily range moved back inside the channels, resulting in a consolidating trading day.

    Today was the first time that the daily range high and 5-day 50% level matched providing the higher daily close into the Weekly 50% level.






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    • Posted by

    SPI Daily 10th June 2010 part 5

    SPI 5-day and spiral filter @ 4392 is Trend guide

    Random resistance 4429

    SPI moves 42 points in the first 90 minutes and then usually consolidates 21 point ranges




    SPI Weekly and Daily Range

    SPI moved upwards and completed the first R42 range, but then remained consolidated above 4429 for most of the day.

    Whilst above the Weekly 50% levels the market looks to be continuing towards the June 50% level.



    Posted by

    S&P (e-mini ) 9th June 2010 Daily recap

    Trend guide 1052.75

    This could see a move back towards the daily 50% level and maybe as high as 1081,

    However, the S&P is still below higher timeframe 50% levels and trying to move towards the June lows.



    S&P Weekly and Daily range.

    Wednesday was the first day in a number of days that price opened back inside the daily channel (1052.75) so there was a bias to rise upwards (minor counter-trend)....

    Whilst the larger trend is trying to move towards the June lows.




    Posted by

    SPI Daily 9th June 2010 recap

    SPI trading above the Weekly 50% level @ 4362

    Trend guide 4397

    resistance 4429 in early trading



    SPI Weekly and Daily range

    Higher daily open and a retest of the Weekly 50% level (42 points down) with a late close above the trend guides @ 4397

    At this stage the market looks like swinging back towards the June 50% levels, as it continues to consolidate in June, and well supported around the Yearly 50% levels @ 4295


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    • Posted by

    S&P (e-mini ) 8th June 2010 Daily recap

    "Simple case of trading on the side of 1049, however no probability on direction"



    S&P Weekly and Daily range.

    No probability on direction is based on the market trading below larger timeframe 50% levels and with the expectation the market is moving towards the June lows.

    However, above 1049 and the focus is on 8.5 range swings (spiral points)






    Posted by

    SPI Daily 8th June 2010 recap

    Major support 4296-4300.

    Trend guide 4339

    Resistance 4391-96.





    SPI Weekly and daily range.

    Major support at 4296- 4300, but at the start of the day I wasn’t expecting the SPI to move beyond 4360-62. (Weekly 50% level)

    There were a number of resistance levels along the way, but they only one that stalled the SPI from rising was the 5-day 50% level @ 4391 providing 21 point reversals.

    Daily close above the Weekly 50% level has the market remaining in a large consolidating pattern during June.


    Posted by

    S&P (e-mini ) 7th June 2010 Daily recap

    "Whenever the market moves into the daily lows on Sunday during globex hours, the market more often than not swings back towards the 5-day 50% level on Monday…

    Random resistance @ the 5-day 50% levels"




    S&P Weekly and Daily range.

    Monday's trading was based on the break and Extend pattern in the 5-day range from Friday, and the next day swings back to retest the break along with the 5-day 50% level.

    Price failed to reach the daily 50% level (precisely)

    Normally I would view today as an UP day, however as you are aware my expectation price is moving down into the June lows…:- 2 month wave pattern.






    Posted by

    SPI Daily 7th June 2010 recap

    "It will depend on where the SPI opens, but below the (4362-67) and in theory the SPI should struggle to rise higher

    Support 4292-4300"




    SPI Weekly and Daily range.

    Market opened below the weekly 50% level and Daily lows on Monday.

    pushed down 42 points @ 4311, but not down into precise support levels (4292-4300)

    After 4311 completed the market moved into a consolidating pattern 21 point ranges, with a late swing back towards another R42 high @ 4346






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