Index, Forex & Stocks 2nd October 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 ) 1st October 2010 recap

"Based on the current price action in the 5-day range, I'm not sure if Friday sells down into a lower Weekly close or simply remain within the weekly & Daily levels

No probability pattern for Friday."

S&P Weekly and Daily range.

Friday ends up consolidating and remaining within the levels in the daily range, and this week remains consolidating within the levels in the Weekly range and an upward bias

First day of October and the September highs that have been acting as support have disappeared and dynamically moved higher.

Weekly report out later

SPI Daily 1st October 2010 recap

"Minor resistance @ 4629.

Random support:- the daily lows on Friday"

SPI Weekly and Daily range

First day of the 4th Quarter and expectation is that the trend is trying to move down towards the October 50% levels.

Early rise upwards was based on the R42 range from yesterday's lows (spiral top)

The resistance levels on Friday then pushed the market back down into the daily lows on Friday:- random support.

The price action in the S&P 500 on Friday, will determine whether the market moves down into support levels sooner, or there is going to be further consolidating early next week:- 2-day swing pattern upwards

Weekly report out tomorrow

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

"My view on Tuesday was support @ 1129.75, &
 My view on Wednesday was support @ 1136.50

Thursday's support remains @ 1136.50 ;- 8.5 points

There is still a possible move towards the Weekly highs

Resistance: - Weekly and daily highs"

S&P Weekly and Daily range

Expectation that 1136.50 would provide some support :- 8.5 points, but I didn’t think it would reach the daily and Weekly highs.

However, once it did reach those highs, they were seen as resistance and sell zones..

Providing reversal patterns back down into the daily support levels to close out the 3rd quarter.

SPI Daily 30th September 2010 recap

The SPI continues to trade around resistance levels (4672-76)

Trend guide 4672

Random support 4658

Break of 4658 and trend bias is down into Thursday’s lows @ 4597-4602

SPI Weekly and daily range.

My overall view of the market was to hit resistance @ 4672-76 and then rotate back down.

For that to happen price had to break 4658, which I didn’t think would happen this week because of the position of the Wednesday ‘sell’ pattern.

I had a Wednesday ‘sell’ pattern but the expectation for the trend to continue down was for it to occur below 4658

Finally, the break of 4658 happened today, and the current price action helps somewhat to validate my preferred pattern, as per Weekly report .

Any further weakness will need to be helped by the S&P moving lower as well.

S&P (e-mini ) 29th September 2010 recap

Based on the current price action on Tuesday, the trend bias is upwards on Wednesday.

Trend guide and support @ 1136.50

At this stage I haven't factored in a 'sell day below 1136.50

S&P Weekly and Daily range.

1136.50 supports the S&P, resulting in a R8.5 rise and then a consolidating trading day between the daily channels

1 day left until the end the 3rd quarter and we move into the 4th Quarter, with an upward bias.

SPI Daily 29th September 2010 recap

"As per weekly report, I was looking for a Wednesday 'sell' pattern, but only if price was below 4658.

Resistance 4724

Below 4694 and the trend bias is to have a Wednesday sell day down into 4658"

SPI Weekly and 5-day pattern

Wednesday sell day, but not precisely from my resistance levels @ 4724.

confirmed break @ 4694 verified the sell day down towards 4658, which is currently the trend guide for this week.

I would continue to be bearish in the short-term only if this price action was occurring below 4658, or today opened below 4658.

At this stage it’s too early to tell other than a 1-day sell pattern set-up

S&P (e-mini ) 28th September 2010 recap

S&P 500 is now back below the September highs @ 1142. and daily channel highs

Weekly support @ 1129.75 (S&P 500)

S&P 500 Weekly and Daily range.

Early resistance @ 1142 pushed the S&P down into Weekly support.

Based on the current price action the trend bias is to continue towards the Weekly highs, and with a possible move towards 1174 +

SPI Daily 28th September 2010 recap

Whilst the SPI remians above 4672-74 the trend bias is up.

Minor trend guide today is 4686

Minor resistance 4716-18.

SPI Weekly and daily range

Small range day with an upward bias, without reaching the daily highs on Tuesday

As per Weekly report:- I'm only bearish in the SPI if it's trading below 4658 on Wednesday for a rotation back towards the October 50% level

S&P (e-mini ) 27th September 2010 recap

"Weekly and Daily highs resistance.

Random support @ 1138"

S&P Wekely ands Daily range.

Monday didn't move as high as I hope for before reversing down.

Trend guide for this week remains 1129.75

along with a Wednesday 'sell' pattern only if trading below 1129.75

SPI Daily 27th September 2010 recap

"Trend guide in the last week of the 3rd month continues to be 4672-76.

On Monday we have a key level @ 4674....

That can see a continuation of the trend upwards into Monday's highs:- 4707"

SPI Weekly and daily range

SPI continues to trend upwards in the last week of the month.

Minor resistance @ Monday’s highs.

Quarterly targets, as per Weekly report