Index, Forex & Stocks 25 Sept 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




Posted by

S&P (e-mini ) 24th September 2010 recap

"S&P can remain within the 5-day range and above the weekly level @ 1116.50

Around 1114.75 to 1116.50 provides support and the market swings back towards the daily 50% level and higher

If the market is above the 5-day 50% level then there is a possible move back towards Friday's highs"


S&P Weekly and Daily range

Ideal pattern for Friday didn't pan out:- test support @ 1116.50 and the daily lows for a swing upwards.

Instead price moved above 1128.50 and continue back into the Daily and weekly highs.

Weekly report out later




Posted by

SPI Daily 24th September 2010 recap

Price is above 4593 therefore there's probably another consolidating pattern within the Daily range.

Trend guide 4618

Spiral filter Support @ 4603

Random resistance 4639.



SPI Weekly and Daily range.

Lower Daily open and a fade back into 4618 using the spiral filter support @ 4603

Normally a daily open below the 5-day lows @ 4618 is seen as bearish, but the next bar moved above 4618 and then continue to move up into resistance @ 4639…

Match by the double R21 spiral top...and then a rotation back down into a consolidation pattern around the  daily lows.

Weekly report out tomorrow






Posted by

S&P (e-mini ) 23rd September 2010 recap

Trend guide 1135

Resistance 1142-1144

Support 1118

Remains within the 5-day range and consolidates above 1116



S&P Weekly and Daily range.

S&P remains within the 5-day range, as the market is pushed down into the lows and then sent back up into the daily 50% level, and then back down into the lows.

Trend guide for the rest of this week remains 1116.50





Posted by

SPI Daily 23rd September 2010 recap

Expectation of a similar day as yesterday and trading within the daily levels

Support 4621

Resistance 4658




SPI Weekly and Daily range

5-day low support @ 4621 and rotation back towards the channel highs @ 4659

Another consolidating trading day above September's highs @ 4628





Posted by

S&P (e-mini ) 22nd September 2010 recap

1142-1144 is seen as resistance on the S&P

Random support 1131


S&P Weekly and Daily range

Higher timeframe levels are forming resistance this week:- 1142-44

Early support around 1131 provided a 8.5 rotation upwards…

But then the larger timeframe levels pushed the market back down into a lower daily close

Currently 1126 is supporting the market, which is a similar pattern as the SPI (aussie market) :- 4628

As this stage the current week looks to be moving into a 5-day consolidating pattern around the highs coming into the end of the 3rd Quarter



Posted by

SPI Daily 22nd September 2010 recap

SPI Remains supported above 4628

Trend guide 4642

Based on the levels in the daily range Wednesday looks like it can be choppy .



SPI Weekly and Daily range.

SPI continues to consolidate above 4628, whilst today remained choppy within the daily levels rotating in 21-point waves,

As you know I’m bearish around these highs, but to verify a reversal pattern I need to see a break of the 5-day lows, and there isn't a confirming reversal pattern in the S&P after reaching higher timeframe resistance level @ 1142-1144

Otherwise this week looks like another consolidating 5-day pattern above 4593.




Posted by

S&P (e-mini ) 21st September 2010 recap

With price trading above Monday’s highs the S&P looks to be continuing higher on Tuesday :- resistance 1142-1144

Random support 1128

S&P Weekly and Daily range.

S&P continues up on Tuesday and completes the break and Extend pattern from Monday

Hits resistance levels at the Daily, Weekly and Monthly highs:- 1142-1144

The reversal pattern didn’t move down far enough (close below support) to help validate any more weakness this week.



Posted by

SPI Daily 21st September 2010 recap

SPI Trading around the highs @ 4697 :- resistance

I would look at today's higher open and gap fill towards 4663, as first target.


SPI Weekly and Daily range

Higher daily open and a move back down into trailing levels in the 5-day range with first target being 4663. Anything after that it didn't matter.

The S&P 500 continues to help the Aussie market remain supported with
last night's up move.

I favoured this week starting with a 2-day reversal pattern, but instead
we have a 2-day stalling pattern above 4593 with today's reversal down
from Tuesday's highs

Until there's a 5-day low breakout, the congestion around the highs (upward bias) can continue until the start of the 4th Quarter.

4th Quarter target remains 4895, but my preference is for the market
move down and then continue higher from the start of October…

rather than September continuing higher and reaching 4895




Posted by

S&P (e-mini ) 20th September 2010 recap

The Trend guide on the S&P this week is going to be determined by the weekly level @ 1116.50.


Either price continues towards the Weekly highs @ 1144, or a the reversal pattern towards the weekly 50% level during the first 2-days this week.


S&P Weekly and daily range.

As per weekly report, my view was for this week to start with a 2-day reversal pattern back towards the Weekly 50% level and Tuesday’s daily lows.

The ideal pattern was an early rise upwards from 1116.50 and for the 2-day reversal pattern to begin from 1128 back down into 1113.

Instead Monday has followed the Weekly pattern upwards, breaking out of the daily highs, and likely to push higher on Tuesday





Posted by

SPI Daily 20th September 2010 recap

"Support 4627-31

Last Friday we had a similar pattern, when price moved down into 4644 and then rose upwards in the afternoon.

However, price was above the spiral filter and today it's below @ 4655

Resistance 4651-55"


SPI Weekly and Daily range

Same pattern as Friday:- Support with an upwards bias of
21 points, resulting in more consolidation during the 'day session'

Whilst the market remains above the highs @ 4628 the trend bias is
upwards…

However, I have the view that the S&P is starting this week with a
2-day reversal pattern: - trend guide 1116.50 (currently supporting
the S&P during globex hours)

Therefore, the SPI is once again going to be helped or hindered by the
price action in the S&P 500 over the next 2-days. If the S&P 500
follows with a 2-day reversal pattern (continuation down from Friday's highs)....

Then the Weekly level @ 4593 in the aussie market will be the trend guide
for the rest of the week.



Posted by
Subscribe to: Posts (Atom)