Index, Forex & Stocks 4th Dec 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



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    • Posted by

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

    Trend bias is to continue towards December's highs next week

    I would continue to look for more gains on towards Friday's highs.

    Trend guide 1212



    S&P Weekly and daily range

    With Thursday closing above the weekly level @ 1212 the market expectation was to remain above this level and continue upwards…

    And follow the monthly dynamics towards the December highs @ 1238.

    Early selling pressure down into a low @ 1213, and with Friday's close I would look for the S&P to continue up towards the monthly highs next week


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    • Posted by

    SPI Daily 3rd December 2010 recap

    Trend guide @ 4735… (same level as yesterday @ 4697)

    If below first target is 4716

    Then a possible 42 point move down into the weekly 50% level @ 4596 (random support)


    SPI Weekly and Daily range

    Break and extend pattern from Thursday into Friday’s highs.

    Today’s higher open provided a short-term sell pattern of 42 points back down
    into the Weekly 50% level @ 4696….

    This was helped by the 2nd bar closing below 4716

    The Weekly 50% level @ 4696 then provided support in an up trend that’s expected to continue higher next week.

    however, that will depend on what happens in the S&P 500 overnight.

    Note:     - Yesterday’s breakout @ 4635-37 and today’s reversal down from Friday’s highs could see the SPI move into a 2-day stall pattern early next week (trailing support levels)

    3-day cycle lows are now all the way back down @ 4562, which can often result in a waiting game of a couple of days until the 3-day lows catch up with the current trend before the market continues upwards.

    As long as price remains above the December 50% level.





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    • Posted by

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

    US markets are likely to continue towards the December highs next week...

    However, the Weekly highs @ 1212 can play resistance on Thursday and push price back to the Weekly 50% levels:- 8.5 to 14 points



    S&P Weekly and Daily range.

    Wednesday’s breakout @ 1198 was expected to continue towards Thursday’s highs @ 1212.

    Around this level (high 1211.75) expectation of resistance, which resulted in a 8.5 reversal but a failure to continue down into trailing support levels @ 1196.

    Breakout of the highs and trend is continuing towards the December highs @ 1138+


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    • Posted by

    SPI Daily 2nd December 2010 recap

    Based on the current price action the SPI will most likely continue to push higher this week and the next.

    Today:- the market is opening above the recent highs @ 4637 with a trend bias towards the Weekly level @ 4696



    SPI Weekly and Daily range

    Higher timeframe support levels (Weekly Report) confirmed with today's breakout of the
    5-day high @ 4635 (3-day cycle 4637)

    first target reached @ 4696 (Weekly 50% level)... with an expectation of
    a break and extend pattern into Friday's highs

    I'm expecting more gains next week....

    However, there is the possibility that price revisits the breakout
    and the November 50% levels for 1 day 'depending on the price action
    in the S&P 500 overnight'


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    • Posted by

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


    Trend guide 1180.

    Whilst below the trend bias is down into the Weekly and Daily lows

    Above and potential swing back towards 1194.



    S&P Weekly and Daily range.

    I wasn’t expecting Wednesday to move into large trending day upwards, especially a breakout of the daily highs @ 1198 without the market testing the 3-week lows first.

    Instead the previous monthly high in October @ 1174 continued to support the market during November.

    The rest of the week is likely to remain above the Weekly 50% level and continue towards the Weekly highs… with an upward bias towards the December highs




    Posted by

    SPI Daily 1st December 2010 recap

    First day of the new month and 'market dynamics' have changed, with support dropping lower towards 4499....

    However, the higher timeframe support levels in the monthly charts can continue to play a supporting role for the next few days until the end of the week.

    Support 4574-77

    Resistance 4595



    SPI Weekly and Daily range

    SPI moved up from support levels @ 4574-77 early and hit resistance @ 4595, which then pushed the SPI back down into support levels once again.

    Higher daily close late in the day has shifted the daily range for tomorrow, which now matches the monthly 50% level for Thursday’s trading.





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    • Posted by

    S&P (e-mini ) 30 November 2010 Recap

    Resistance @...1185-1187

    At this stage I still have the view that US markets are trying to move down



    S&P Weekly and Daily range.

    S&P has remained below the resistance levels, providing a number of 8.5 reversal pattern…

    as the market continues with the downward bias whilst below the Weekly 50% levels.


    Last day of the month, and there is still the possibility that the trend continues down towards the Weekly lows


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    • Posted by

    SPI Daily 30th November 2010

    3-day sell cycle @ 4629

    If price is below 4623-29 then the market will move into another consolidating pattern with a downward bias.

    Below 4607 and market is likely to continue lower    .



    SPI Weekly and Daily range

    Last day of the month and the market remains consolidating above higher timeframe support levels…

    However, those levels shift dynamically starting from tomorrow.

    Today’s trading resulted in more support and another rejection pattern around the daily channel highs @ 4623

    Posted by

    S&P (e-mini ) 29 November 2010 Recap

    There is a Dilernia drop in the forward month that often pushes the trend down for the current month:- below the Weekly 50% level

    trend bias is down into the daily and weekly lows:- random support.


    S&P Weekly and Daily range.

    Whilst the S&P remains below the Weekly 50% level the trend bias is down.

    There wasn’t a higher probability short-trade set-up until Monday was below 1184, with the expectation the trend was moving down into the Daily lows….

    Which then provided random support of 8.5 points






    Posted by

    SPI Daily 29 November 2010 recap

    The SPI is trading around higher timeframe support levels @ 4571-82, along with a lower Weekly open.

    As mentioned previously, this week can rise up from support and then push higher from December using the new monthly 50% level

    Trend guide 4580-84 (brown filters)



                                                                                SPI futures

    Early push down into support levels once again, and now we have a lower Weekly open rising up from support

    This is the first time in over 3-weeks, that price is trading above the channel highs and remaining above it, with a higher daily close above 4613 (not shown above)

    At this stage there are a number of patterns that are playing out based on the higher timeframe cycles and support levels

    But the interesting price action will be from Wednesday onwards and the start of the new month:- December 50% level

    And also how the S&P trades for the rest of this week:- Dilernia Drop




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