Index, Forex & Stocks 4th Sept 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

S&P (e-mini ) 3rd September 2010 recap

Trend bias is to continue upwards on Friday towards 1098.50 to 1102

S&P weekly and Daily range.

Trend bias was to continue to move towards higher highs on Friday and back into the 3rd quarter resistance levels as per Weekly report:- @ 1098.50 to 1102

Those highs were seen as resistance levels, but there is a shift in market dynamics that points to more gains next week with Friday’s close

Weekly Report out later

SPI Daily 3rd September 2010 recap

SPI Trading around resistance levels: - Weekly highs @ 4569

Spiral filter @ 4557 and Trend guide:- 4551

Support:- 4522 (Weekly level)

                                                             SPI Weekly and Daily range

Higher daily open and fade down from open using a shift in the daily pattern from 4510 to 4551, along with the spiral top @ 4557

Trend reversal was based on either the market continuing down into the 5-day 50% level @ 4483, as part of retesting Wednesday's breakout...(4471)

or it was going to find support around the weekly level @ 4522 and consolidate, which it did.

Market dynamics suggest further gains next week towards the September highs...

And that will depend on how the S&P 500 responds to non-farm payroll out tonight.

S&P (e-mini ) 2nd September 2010 recap

Weekly 50% levels: is now the trend guide @ 1079

Breakout on Wednesday should continue up into Thursday's highs. (Resistance):- break and extend pattern

S&P Weekly and Daily Range.

S&P continues with the break and extend pattern from Wednesday into Thursday’s highs.

Normal resistance pattern and a 8.5 reversal pattern failed to materialise, and price now looks like moving upwards on Friday towards 1098.50 to 1102

SPI Daily 2nd September 2010 recap

5-day breakout and extend pattern completed from 4471 into 4577

Price is also trading around the Weekly highs, therefore I'm looking for a higher daily open that pulls back into support levels.

SPI Weekly and Daily range.

Higher daily open around resistance levels and a fade down from the weekly highs into support levels to close out the day.

As pointed out in the Weekly report, once above the September 50% levels there is a trend bias to move towards 4672

The expectation of the UP move and trend direction will be determine by the S&P 500 remaining above the September 50% levels

S&P (e-mini ) 1st September 2010 recap

"If US markets are going to follow my view of moving lower, then today's set-up is a high probability short-trade for a move back down into the Weekly lows...

If not price will continue higher.

The trend guide is simply the 5-day 50% level"

S&P Weekly and daily range.

The first day of September and price was starting with a higher daily open and trading around resistance levels (below September 50% level).

Market dynamics was different compared to the Australian Market, so my natural expectation is to look at the pattern and factor in a continuation of the move down:- using higher timeframe resistance levels

However, that wasn’t going to happen if price is above 1056:- Weekly level and 5-day 50% level.

Once above the September 50% level @ 1063 the trend bias was to follow the trend upwards and back towards the weekly 50% level 1079.

There is a breakout of the daily highs on Wednesday, therefore the trend is expected to continue upwards, and any further gains will now depend on 1089.50 once again, and whether the trend continues to 1102 by Friday

SPI Daily 1st September 2010 recap

First day of September and price is now trading above the September 50% levels @ 4394, which is seen as a bullish sign

For the market to move up towards the 5-day highs @ 4471, price needs to be trading above the Weekly and daily levels @ 4430-32.

Above 4471 and trend bias is towards 4522

SPI Weekly and Daily range.

Shift in market dynamics from August into September has seen a 5-day breakout, @ 4471 and looks to be heading into 4522-27 in the short-term

If this pattern continues as per Weekly report, that upside target during September is 4672.

Market dynamics in US markets aren't the same at this stage, as the S&P opens below their September 50% levels today.

S&P (e-mini ) 31st August 2010 recap

Resistance 1051-56

Support :- 1031-33 Daily and Weekly lows.

S&P Weekly and Daily Range

Price didn’t move down far enough into support levels on Tuesday for a swing back upwards.

There was some resistance around the daily 50% level of 8.5 points, but then a late move upwardshas seen Tuesday move towards the September 50% level on the last day of August.

SPI Daily 31st August 2010 recap

Today's trading range is based on the possibility that price moves up into resistance levels @ 4429-30 (Weekly 50% level and daily level @ 4429)

Below 4375 and trend bias is down towards 4338

SPI Weekly and Daily range.

Early rise up into resistance levels @ 4430 and a reversal down as part of a larger trend that’s trying to push markets lower.

4295 remains a robust support level on the Australian market and 3rd Quarter consolidation continues, at this stage

However, any further weakness will be due to the price action in the S&P 500 as it drags the Aussie market lower during the 3rd Quarter.

September 50% level is the trend guide starting tomorrow.

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

My view is to continue down during the 3rd quarter…

However, based on the Daily and Weekly levels, the trading range for Monday is 1056-1079

S&P Weekly and Daily range.

Larger trend patterns continue to push the S&P lower, however based on the price action from Friday I would have liked to have seen the S&P hit the daily highs first before breaking support.

Support around the daily level of 1059-61 provided a 4.25 move but failed to provide the usual 8.5 range.

SPI Daily 30th August 2010 recap

Trend guide 4396.

Above 4396 and the trend bias is to move up towards 4330-47

Below 4396 & into random support levels

SPI Weekly and Daily range.

Trend guide on open was based on 4396, which was either going to push price down in early trading into support levels, or it was going to move upwards.

Rally on open in the first 90 minutes into Monday’s daily highs @ 4447 and then in a consolidating trading pattern of 21 points

Trend bias is to continue back towards the August 50% level @ 4486, but that will depend on price action in the S&P 500