Index, Forex & Stocks 6th November 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, TLS, and Banking Report Update



Posted by

S&P (e-mini ) 5th November 2010 Recap

Break and extend pattern from Thursday is likely to continue towards Friday’s highs:- resistance.


The market can continue upwards into Friday's highs, which if it stalls at those highs, then there is an expectation that next week will begin with a 2-day reversal pattern back down to retest last week’s breakout pattern.

S&P Weekly and Daily range

S&P moved slowly up towards the highs on Friday and stalled.

The Market can easily continue to move up towards next week's highs, but in the short-term I would like to see a minor corrective move to retest the Weekly breakout and 1201.25





Posted by

SPI Daily 5th November 2010 recap

our trend guide is simply 4828

If the market is below it is coming back to retest Friday's breakout, with the first targets @ 4802-05.




SPI Weekly and Daily range.

Higher daily open aligns with a precise spiral top @ 4828 and a minor reversal pattern down into 4802-05

And we have a similar support level as yesterday.

As per Weekly report, there is an upward bias towards 4904 during the 4th quarter…

But depending on the price action in US markets on Friday, next week I would want to focus on a 2-3 day reversal back down to retest this week’s breakout @ 4724- 4751.

At the moment we have a breakout of this week’s highs and a likely continuation towards next week’s highs



Posted by

S&P (e-mini ) 4th November 2010 Recap

Federal reserve came out late yesterday with an announcement that they are printing $600 Billion to stimulate the economy.

In the short-term this might give the market extra reason to push the trend towards November’s highs @ 1217.50 by Friday


S&P Weekly and Daily range.

Either Thursday’s highs was going to stall the trend from rising @ 1202..

Or it was inevitable and that the monthly dynamics was going to take precedence and continue towards the November highs by Friday, helped by Wednesday’s close above the Weekly highs...

And also the Fed printing money.





Posted by

SPI Daily 4th November 2010 recap

"Thursday's highs are random resistance

and then continue towards the November highs by Friday.

Support 4720"

 

SPI Weekly and daily range.

Same pattern as yesterday, but this time price didn’t move down into support (4720) from the channel highs @ 4743

Instead price continued with the breakout of the Weekly and daily highs towards 4764 and then stalling between the levels.

And most likely continue towards November’s highs by Friday




Posted by

S&P (e-mini ) 3rd November 2010 Recap

Weekly & Daily highs resistance

Random support @ 1187.

I’m not expecting a down day on Wednesday.


S&P Weekly and Daily range

After yesterday’s price action I wasn’t expecting a large down day on Wednesday.

The market drifted into support levels @ 1187 and then news came out that the FED wants to start printing 600 billion dollars to stimulate the economy, which spooked the market

After the news came out I was surprised to see the Market stay up. History tells us that when governments start printing money it doesn’t always turn out well.

Current price action suggests the S&P continuing towards 1202.50

And market dynamics can see the trend continuing this month towards 1217.50






Posted by

SPI Daily 3rd November 2010 recap

Resistance @ 4730-36

Trend guide 4714

Trend guide 4702


SPI Weekly and Daily range.

Early resistance @ 4714 pushed the SPI down into 4702, which supported the market….

And then price followed the market dynamics into the higher timeframe resistance levels @ 4730-36



Posted by

S&P (e-mini ) 2nd November 2010 Recap

I would have to favour 1186.26 to 1186.75 acting as resistance and sending Tuesday lower.

above 1186.75 is a random pattern, as the market goes looking for 1202.50

S&P Weekly and Daily range.

This Week's trend guide is 1186.75, and after yesterday's reversal down from Monday's highs and the daily close below 1186.75, my view was a continuation down on Tuesday...using both the Weekly and Daily channels

However, as pointed out in Monday's report...

Either the market hits resistance around the Weekly and daily highs on Monday and reverses down….

or the trend continues upwards towards 1202.50

Once Tuesday started trading above 1186.25, it now looks like the market will try and continue upwards this week


Posted by

SPI Daily 2nd November 2010 recap

Not much I can say about today's price action, it's simply a case of using the levels in the daily range.

Trend guide 4691

 
SPI Weekly and Daily range

Early resistance @ 4691 and a push down, but then the market moved in a consolidation pattern with an upward bias, as price remains above the Weekly 50% level.


















Posted by

S&P (e-mini ) 1st November 2010 Recap

Whilst above the daily channel @ 1183.50 the bias is to continue up into the Daily and Weekly highs

Those highs @ 1192-1196 are still seen as resistance levels for this week.


S&P Weekly and daily range

Early rise upwards into resistance levels providing a double 8.5 reversal down.

Currently the market is below 1186.75, which is now seen as the trend guide for this week.




Posted by

SPI Daily 1st November 2010 recap


Trend guide 4665

Possible move towards Monday's highs based on Price being above 4665 and heading upwards 42 points.



SPI Weekly and Daily range.

Rise upwards from 4665 completing the 42 points range early , but then the SPI moved into a consolidating pattern around those highs for the rest of the day.



Posted by
Subscribe to: Posts (Atom)