Index, Forex & Stocks 23rd October 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 ) 22nd October 2010 recap

market can remain range bound in the middle of the blue channels, as 1182 acts as resistance.

S&P Weekly and Daily range

 
1179.75 acted as resistance for most of the day until late, when after the cash market had closed futures buying after pushed the the price above the channel high

A very slow trading day, as the market continues to remain trading below the higher timeframe resistance level 1182.



Weekly report out later.






Posted by

SPI Daily 22nd October 2010 recap

Based on the filter, I would say that the trend is moving up towards the highs.

Trend guide 4623-35


SPI Weekly and Daily range

Slow trading day as the market remained consolidating above 4635 until the cash market closed...

and then futures buying pushed prices back into the Weekly 50% level @ 4655.





Posted by

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

Resistance 1184-1188

i'm not expecting a large trending down day into the daily lows.




S&P Weekly and daily range.

S&P pushed up into the daily highs and then reversed down into the daily 50% level.

Market remains trading below 1182 (major resistance), but at this stage it 's following the lesser patterns and making slightly higher highs within the daily range without providing a continuation down this week, as price remains above the weekly level @ 1166





Posted by

SPI Daily 21st October 2010 recap

Resistance 4669-76

Support 4632-35

My view is to remain range bound between those levels


SPI Weekly and Daily range


Tight trading day once price hit resistance levels @ 4669 (high) and price reversed down towards the attraction zone of 4632-35

Once cash market closed, futures pushed lower towards the close looking for a move of 42 points down from today’s highs



Posted by

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

Trend guide 1168.50

Either the market continues down from the daily 50% level, or it swings back towards the highs.


S&P Weekly and Daily range

Tuesday’s failure to breakout of the lows has resulted in the market moving back towards the highs using the Weekly level @ 1166 as support.

My view was for 1168.50 to push the market back down into the daily lows on Wednesday.

1168.50 provided a 4.25 reversal pattern during globex hours, but the daily channel provided support, whilst the upper channel provided resistance.

1182 continues to be resistance with the potential of more consolidation,

however, the current price action could see the S&P move towards the Weekly highs this week.




Posted by

SPI Daily 20th October 2010 recap

Trend guide 4630-4633

Support Weekly lows @ 4583-4591


SPI Weekly and Daily range

Early push down and break of the 5-day lows @ 4630, but we have a similar pattern as a couple of weeks ago, when the Weekly lows  supported the market.

Any further weakness will depend on the price action in the S&P 500, as it pushes down from 1182

As per Weekly report, there is a larger trend guide and support level in the SPI @ 4582



Posted by

S&P (e-mini ) 19th October 2010 recap

"My view is for the market to go down, but Tuesday needs to be trading below the daily 50% levels and breaking out of the 5-day lows"



S&P Weekly and Daily range

My view has been for the S&P to reverse down once price hit 1182, as per weekly report.

However, I would have preferred Tuesday to be breaking out of the daily lows, and not find support around the daily lows.

Whilst price is below 1166 at this stage the trend bias is to move lower






Posted by

SPI Daily 19th October 2010 recap

"My view is that price is trying to rise upwards and test 4688.



Which then becomes the trend guide on whether the market goes down. Anything below 4688, we begin to hold trades longer"


SPI Weekly and Daily range
 
SPI  moves down into 4669 and then rises up into 4688, which then becomes the 'sell' zone (Hold shorts) 


The sell off didn't move down as far as I would like during the day session...

However, that sell off will now depend on price action in US markets overnight


Posted by

S&P (e-mini ) 18th October 2010 recap

Monday is trading around the middle of the daily range and the Weekly level @ 1166.

This could see a swing back towards the highs once again, which will move into my preferred pattern.

Preferred Pattern:- Monday moves up into the daily highs and then reverses down into the daily lows.


S&P Weekly and Daily range.

My preferred pattern is half way there, it will now be dependant on Tuesday’s 50% level and the Weekly level @ 1166.

If price is below 1166 on Tuesday then I’m looking for a move down into the Weekly 50% level.

My preferred pattern was to see Monday continue down and now trading below 1166.

As you are aware my view is that there is a brick wall around 1182-83 in the S&P, with the expectation that the market is rotating back toards the monthly 50% levels....

But with Monday's price action it hasn't moved below key levels as yet





Posted by

SPI Daily 18 October 2010 recap

4708 is the trend guide with a possible move down 42 points towards the Weekly 50% level @ 4655


SPI Weekly and daily range


Higher daily open and another rejection pattern, this time from 4708.

And this time moving more than 42 points towards the Weekly 50% level, as the market continues to consolidate within the Weekly ranges.



Posted by
Subscribe to: Posts (Atom)