SPI Daily 8th December 2010 recap

Weekly higghs have been reached and now expectation is a lower Wednesday close towards support levels @ 4681-89.

Trend guide @ 4726 and spiral filter



SPI Weekly and Daily range.

4726 formed resistance in ealry trading and moved into a lower wednesday close, without reaching the target zones.

Weekly highs reached and expectation was that today would move down into support levels, which is now happening in after hours.

If the market is going to go higher then price needs to find support around 4689 and begin a move towards higher highs by Friday.

Anything below 4689 is seen as bearish

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S&P (e-mini ) 6th December 2010 Recap

Trend bias is upwards but then reverses down from 1235 towards the Weekly levels @ 1213.



S&P Weekly and Daily range.

S&P has moved up into the Daily and Weekly highs and has reversed down from 1235, without reaching to target zone @ 1213 during the cash market

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SPI Daily 7th December 2010 recap

Trend bias is upwards during December:- today's trend guide 4698 (yesterday’s level)

Attraction zone @ 4723;- expected resistance zone until Rate announcement

SPI Weekly and Daily range.

Today was either going to follow the monthly trend upwards, or Tuesday was part of a 2nd day reversal pattern into trailing support levels (50% levels)

It was a simple case of the trading on the side of 4698 amd towards until 4723. in early trading.

No change to the cash rate @ 14:30 and the SPI has followed the 5-day pattern upwards, as part of the trend that’s heading higher, as per Weekly report

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SPI Daily 6th December 2010 recap

Trend bias is to continue upwards, however I'm looking for the SPI to move into a 2-day reversal or consolidation pattern...Minimum pullback is towards 4673:

Resistance 4728

Trend guide 4698.


SPI Weekly and Daily range.

As per Weekly report, I’m looking for a short-term pullback because of the change in the 3-day cycle:- currently 4637.

Ideal set-up today would have been an early rise into 4728 and then a reversal down.

Instead the trend guide @ 4698 supported the market for most of the day.

"my view is around 4726-28 will try and move down towards 4673 over the next 2-days.

However, the day session @ 4698 might provide support today….morning report

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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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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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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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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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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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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

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