S&P (e-mini ) 12th November 2010 Recap

"There are two possible patterns for Friday using the daily lows as a trend guide & Support

#1. Remains within the daily range using Friday’s lows as support @ 1195:- 8.5 points. ($425 USD)

#2 Resistance the Daily 50% level and channel lows @ 1208"

S&P Weekly and Daily Range

S&P moved down into Friday lows @ 1195 and reversed back upwards, providing an initial 8.5 range upward move and then a continuation back into resistance levels:- 1208

Market high @ 1208.50 once again provided another 8.5 range reversal and lower Weekly close, as the market rotates down from a higher weekly open from the November highs @ 1217.50

Also helped by the 'Dilernia Drop' in the forward Weekly cycle: probability suggests a lower weekly close....as per previous book " the trader Trading"





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SPI Daily 12th November 2010 recap

Because of the higher weekly open and price coming down from the November highs and also below 4752...My view is that this week is closing lower. (lower Friday close)

Resistance 4752

Trend guide 4719

SPI Weekly and Daily range

Early rise from 4719 up into the resistance @ 4752….

Then a reversal back down, as the market closes lower Friday





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S&P (e-mini ) 11 November 2010 Recap

Whilst the S&P is below 1213 the trend bias is down.... (8.5 points)

Random support the Daily lows...




S&P Weekly and Daily

S&P moves down from 1213 (min move 8.5 points $425USD)

S&P continues to remain trading between the November highs and the Weekly level @ 1201.25


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SPI Daily 11th November 2010 recap

This week is reversing down from a higher weekly open and the 2nd month highs @ 4791 in the 4th Quarter.

This could see this price continue to move lower (lower Weekly close).

If that's going to happen then today's higher open around the 5-day 50% level and Weekly level @ 4752 will help set-up Thursday moving down.

SPI Weekly and daily range.

Lower daily open and there were two resistance levels today

4740 & 4752.

Early rise into 4740 saw the market stall for a number of hours, but then price moved up into 4752.

Any further weakness towards the daily lows will depend on the price action in the S&P 500 on Thursday






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S&P (e-mini ) 10 November 2010 Recap

This week's view was to start with a minor reversal to retest the previous Weekly breakout & 1201.25

Whilst the S&P is trading below 1214.75 on Wednesday the trend bias is to move downward.





S&P Weekly and Daily range.

S&P moves downward on Wednesday, but remains within an 8.5 range…

as the market consolidates between the Weekly range & the November highs.




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SPI Daily 10th November 2010 recap

support levels @ 4741-44 match the spiral filter @ 4744

This is going to provide a 21 point up swing back into the 5-day 50% level, and then we look for a swing back towards 4786-89,

Below 4744 and the market looks to be moving back towards the daily lows on Wednesday @ 4698,




SPI Weekly and Daily range


Early support @ 4744 provided a 21 point up move on Wednesday, as per morning report

However, support failed after lunch and the Australian market moved
back into a rotation pattern down into Wednesday's lows @ 4698:- random support

Looks like more consolidation in the 4th Quarter (above 4582).



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S&P (e-mini ) 9th November 2010 Recap

At the moment I favour a down day back into the previous Weekly highs @ 1201.50, because of Friday’s daily high pattern.


S&P Weekly and Daily range

Tuesday completes the 2nd day reversal pattern towards 1201.50, however the daily range and channels have played a supporting role @ 1207.25

This should be seen as a minor reversal pattern to retest last week's breakout.









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SPI Daily 9th November 2010 recap

Currently the SPI is moving into a 2-day counter-trend move back towards 4752

There is a daily close below the November highs @ 4791, which is going to provide a trend guide on whether Tuesday continues down


SPI Weekly and daily range.

SPI has completed the move back into the previous Weekly breakout in
the first 2-days of the week @ 4752.

This is part of retesting the previous Weekly breakout in the
first 2-days, and once validated the market often
continues towards this week’s highs, as part of the trend continuing higher.

However, I have the same expectation in the S&P 500, as part of a
2-day reversal pattern back towards 1201.

If that happens overnight, the SPI will open lower on Wednesday, as the market hits the 2nd monthly highs in November and once again moves into another consolidating pattern.



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S&P (e-mini ) 8th November 2010 Recap


S&P Weekly and Daily range.

Trend guide 1213.75


Monday remains in a tight trading range around November's highs

There are two possible patterns this week…

Continues up towards the Daily & Weekly highs @ 1235, which are seen as resistance levels

Or price reverses down towards 1201.25 over the next 2-days, as per of retesting last week's breakout

And Monday hasn't given any clues, which direction this week is going to take


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SPI Daily 8th November 2010 recap

"Sycom has closed on the spiral filter and once again 4828 should be used as today's trend guide.
If below expectation that price is rotating down, with the first target @ 4794."


SPI Weekly and Daily range

Market moves down from 4828 and into the first target @ 4794

"Monday's trading is whether it tries and continue up and move towards this week's high @ 4876...

or whether Friday's 5-day high @ 4836 begins this week with a 2-day reversal using 4828 as resistance"

At this stage we are currently in a 2-day reversal pattern back towards 4752 , and a retest of last week's breakout @ 4724

With today's set-up and spiral filter @ 4828 providing the robust resistance and entry level

However, the daily and Monthly levels are supporting the price action on Monday @ 4791-94



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