Index,Forex, Stocks 18th DEC 2010 Weekly

Weekly Index & Forex Reports out now...

Australian Index (SPI) Futures

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Posted by

S&P (e-mini ) 17th December 2010 Recap

Resistance 1241

Looking for a down day towards the Daily lows.



S&P Weekly and Daily range

I was looking for the S&P to continue down towards a lower daily close because of the price action over the past 2-days.

Wednesday has closed below the 3-day cycle lows, changing the pattern into a ‘sell cycle’

Thursday moved into a 1-day counter-trend move using the set-up B pattern, as described yesterday.

Because of these two patterns, my view was the Friday would continue down.

Instead we got resistance @ 1241, but a failure to follow through on the down side.

Weekly report out later.


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    • Posted by

    SPI Daily 17th December 2010 recap

    today's open matches a number of resistance levels (4791-93), that can see a minimum move back down into 4780...

    4780 then becomes the trend guide. If below trend bias is to continue down into random support levels @ 4659 & 42 points




    SPI Weekly and Daily range


    Daily open at Friday’s highs and a reversal pattern down into lower support levels @ 4759

    Trend remains stable during December, and there’s no sign of a
    2nd week reversal pattern based on the current price action

    If there was, the market would already be trading below the 3-day
    cycle @ 4751 by Thursday and heading down on Friday & closing below 4690, as per Weekly report

    At this stage this is seen as a minor reversal pattern within the 5-day range, and will continue lower over the next 2-days if 4751 fails to hold next week.

    That will also depend on the price action in the S&P 500 overnight

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    • Posted by

    S&P (e-mini ) 16th December 2010 Recap

    Set-up A:- moves up into the 5-day 50% level and continues down into the daily lows, which are seen as random support

    SET-UP B :- support on the daily lows and a swing back towards the highs on the same day.

    as the futures contracts are trying to complete the move into the December highs @ 1249.50 (weekly report)



    S&P Weekly and Daily range.

    Thursday started with Set-up A and then followed with set-up B.

    Price action suggests that the S&P will continue into 1249.50 (December contracts) on the last day.


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    • Posted by

    SPI Daily 16th December 2010 recap

    Support 4751

    Trend guide 4774 (resistance)

    Expectation market is moving 21 points from either level.



    SPI Weekly and Daily range.

    Whether market opened near 4751 or 4774 there was the view that price would move up or down 21 points until each other level was reached, which is what happened during the early part of the day.

    It wasn’t until the market moved above 4774 in the 2nd half of the day, there was the expectation that price would continue up towards 4792, as part of a 42 point range move from today’s lows

    This is now the 4th day in a row that the range during the day has failed to move 42 points.


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    • Posted by

    S&P (e-mini ) 15th December 2010 Recap

    My ideal set-up is for the S&P to move up into 1239.75 (channel highs) and then sell off down into Wednesday's lows @ 1226



    S&P Weekly and Daily range.

    Currently the December highs @ 1238.50 are forming resistance

    S&P moved up into a high of 1239.50 and then sold off towards the Daily lows on Wednesday, with a minimum move of 8.5 points

    My view is that the S&P is trying to move down into the Weekly levels @ 1225 (random support)






    Posted by

    SPI Daily 15th December 2010 recap

    Today is the first time that the market is trading below both brown filters, which often favours a 'down' day (lower daily close)

    Trend guide 4781




    SPI Weekly and daily range

    Today was the first time since last Wednesday that both filters were above the open, which favours a down day.

    However, we didn’t get the same range, and we didn’t get an expected 42-point move either.

    Last day for December contracts and I would have thought a move down towards 4747 would have played out just for the sake of getting some volatility into the market



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    • Posted by

    S&P (e-mini ) 14th December 2010 Recap

    No probability pattern in the direction for Tuesday.

    I'd focus on 4.25 to 8.5 points using the levels in the daily range.



    S&P Weekly and Daily range.

    Choppy trading day that remained within a 8.5 point range


    Posted by

    SPI Daily 14th December 2010 recap

    The SPI is trading around the spiral filter and the level in the 5-day range @ 4776-77.

    Whilst the market is below this level the trend bias is to move down

    however, we once again have the day session level @ 4762 that has provided support for the past 3-days.

    SPI Weekly and Daily range.

    Once again the trailing filter has provided support on the SPI, as has been the case over the past 4 days… (4762)


    As the market continues to remain in an upward trend towards the December highs @ 4832-41.


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    • Posted by

    S&P (e-mini ) 13th December 2010 Recap

    I’m treating Monday as part of a reversal pattern from 1237 down into 1225, as the market is trading around the December highs @ 1238.50




    S&P Weekly & Daily range.

    My view was for Monday to remain within the daily range and moved down towards the weekly levels @ 1225.

    Instead price pushed upwards, but not high enough for the market to reach the daily highs @ 1243 or the December contracts to reach 1249, as per Weekly report

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    • Posted by

    SPI Daily 13th December 2010 recap

    Resistance @ 4781

    Looking for a short-term pullback into trailing support levels

    Random support @ 4755-58



    SPI Weekly and Daily range.

    As per weekly report, there is an expectation that the trend is continuing upwards this week: - 4823-41, but with the possibility that the 2nd week of December may reverse down.

    Today’s resistance levels provided a short-term pullback, and any further weakness this week will need to be trading below 4735…

    And that will be decided by the price action in the S&P overnight


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