Index & Stock Rpts 17th July 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



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    • Posted by

    S&P (e-mini ) 16th July 2010 Daily recap

    "As you are aware I'm bearish on the S&P at these levels (1099)

    Resistance on Friday 1093"



    S&P Weekly and Daily Range…

    Friday sell off and back down into the Weekly 50% levels from upper resistance levels.

    Either Today was going to remain range bound between the daily levels @ 1093 and 1074….

    Or it was going to break the daily lows, as per of a larger downward trend



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    • Posted by

    SPI Daily 16th July 2010 recap

    Today is about whether Friday continues to move upwards resulting in a higher Weekly close towards the daily highs

    Or whether this week ends up as a 5-day pattern that consolidates and closes in the middle of the Weekly range

    Support 4393.



    SPI Weekly and Daily range.

    With the spiral filter high two days ago and finally closing down @ 4407, the Aussie market was going to struggle to rise higher than 4425.

    This has seen a drift down into support levels @ 4393, resulting in a 5-day pattern that closes in the middle of the range :- 'NO CONTROL'

    Buyer or sellers don’t have control of this week’s trading…

    And are awaiting to see whether the S&P continues to drift lower based on the resistance level @ 1099.


    Weekly report out tomorrow



    Posted by

    S&P (e-mini ) 15th July 2010 Daily recap

    "I'm bearish on the S&P once price has reached 1099, but there is nothing at this stage that suggests a continuation of the down trend unless it’s trading below the daily 50% level"



    S&P Weekly and daily range

    S&P continues to hit resistance levels around 1099, and this sent Thursday lower and below the Daily 50% level, but it didn’t remain below that level for very long.

    Currently the market remains trapped between a number of key higher timeframe levels in the S&P 500:- 1099 and 1079 (July 50% level), as shown in the Weekly report.

    Daily report out later





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    • Posted by

    SPI Daily 15th July 2010 recap

    Whilst the market remains above the Weekly 50% levels the bias is to continue towards the July 50% level @ 4464

    However, the spiral filter once again doesn't provide an ideal set-up to trade longs, as it's trying to push the R42 range down towards 4407 to 4393



    SPI Weekly and Daily range

    SPI remains trading above the Weekly 50% levels but today ended up choppy as the ‘Range’ was trying to push downward most of the day towards 4407 to 4393

    Whilst the SPI remains above the Weekly 50% levels the bias is to continue upwards….

    As mentioned a number of times of already, 1099.50 is resistance on the S&P and Wednesday’s price action may have ‘topped out’ the current up trend during July, however that is yet to be seen.

    At this stage there is nothing to help validate that continuation of the trend going lower unless Thursday breaks key support levels in the daily range.






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    • Posted by

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

    "1099.50. is seen as resistance with the expectation that price is heading down.

    Needs to drop back below 1094.75 for a pullback towards the Daily 50% level"

    Premium Report





    S&P Weekly and Daily Range.

    Wednesday has ended up range bound between the Daily 50% levels and 1094.75.

    I have the view that yesterday’s highs @ 1099 can lead to further weakness during the 3rd Quarter, but there is nothing to confirm that view just yet other than hitting resistance and stalling. (1 day)

    Daily report out later







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    • Posted by

    SPI Daily 14th July 2010 recap

    Based on the current patterns in the SPI (above Weekly 50% levels), the market should continue to move towards the July 50% levels & 4515

    However, 4439 is another higher spiral filter that can provide a 21 to 42 point reversal pattern during the day



    SPI Weekly and R42 range

    Expectation that the trend is moving higher, with today’s opens above the Weekly 50% levels.

    Early resistance around the spiral high @ 4439 in early trading, but a failure to complete the 42 point reversal downward, instead providing a 2x21 point reversal.

    Late Buying in the market has seen the SPI continue towards the highs and trying to move towards 4455




    Posted by

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

    S&P has continued to move upwards on Monday from the Weekly 50% level.

    As per Weekly report, the market is likely to continue towards 1099.50...



    S&P Weekly and Daily range.

    Tuesday has continued up and has completed the move into 1099.50


    As per Weekly report 1099.50 is seen as resistance during this Quarter.

    To help verify that view price needs to drop back below 1094.75 tomorrow.

    However, there is a breakout of the daily highs on Tuesday @ 1090.50, which can often extend upwards on Wednesday and continue to trend higher.

    Whilst above 1094.75, any further gains this week is towards 1112.

    Posted by

    SPI Daily 13th July 2010 recap

    The R42 range is completing @ 4411 and forming a Spiral top.

    If the market moves back below 4401 the downside bias is towards 4338



    SPI Weekly and R42 range…

    This week's trading is based on trading either side of the Weekly 50% levels.

    Either the market continues towards the July 50% levels @ 4464, or reverses down towards 4299 by Friday.

    Today was based on using the spiral filter @ 4411 with the expectation that the market would move down 42 points, and then possibly continue towards 4338.

    The reversal towards 4338 can still happen during sycom






    Posted by

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

    Whilst the market remains above the Weekly 50% level, the bias is to move up towards Monday's highs

    Trend guide blue channel high& 4.25 to 8.5 points




    S&P Weekly and daily range

    S&P continues to push up towards the July 50% level using the Weekly 50% level as support @ 1068

    Monday remained range trading in multiple 4.25 to 8.5 ranges until late trading, which lead to a higher Daily close.






    Posted by

    SPI Daily 12th July 2010 recap

    "Trend guide:- Weekly 50% levels @ 4395 and 4407.

    With the bias to complete the r42 range from Friday"



    SPI Weekly and R42 range..

    Today was simply trying to use resistance levels @ 4395 with the expectation that the R42 range was trying to complete down.

    Early resistance of 21 points from 4395, but then a move up towards the highs @ 4404 and then another R21 reversal downward, but a failure to complete the R42 range @ 4364

    As per Weekly report, my view is a large 3-month consolidating pattern during this Quarter, with the possibility that price can revisit the monthly lows once again.

    Whilst the market is below the Weekly 50% level the bias is to move down towards 4299 this week.

    Above the Weekly 50% levels and the trend continues towards the July 50% level.





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