Index, Forex, Stocks 8th Jan 2011 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

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OIL Futures:- OIL BOIL

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Note: Weekly BHP, RIO, TLS, and Banking Report Update



Posted by

S&P (e-mini ) 7th January 2010 Recap

Blue channel highs @ 1271.25, can push the S&P down it’s usual 8.5 points…



S&P Weekly and daily range

S&P remains trading within the daily range channels, and this week closes above the Weekly highs @ 1263

Next week’s trend guide is 1265.25, which will determine whether the S&P continues up towards the January highs @ 1280

Or moves down into support levels:- Weekly lows @ 1238




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    • Posted by

    SPI Daily 7th January 2011 recap

    The SPI can continue to remain around these support levels for this week until we begin the next. (lower Weekly open)

    Trend guide 4700.

    Resistance 4730

    Below 4700 and trend bias is down towards Friday’s lows @ 4672

    SPI Weekly and Daily range.

    SPI continues to consolidate around these levels, as the market remains above the Weekly lows.

    However, the weekly close below the January 50% level @ 4703 is likely to follow a double weekly low pattern next week. (bearish)




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    • Posted by

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

    Thursday’s highs are seen as resistance

    Looking for the market to move down towards the daily lows over the next 2-days



    S&P Weekly and daily range.

    S&P reverses down from Thursday’s highs 8.5 points, but the channel highs @ 1267 form a support zone, and the market once again moves into a consolidation pattern.

    Looking at the price action it's likely that the market will probably remain above this week’s highs @ 1263….

    And possibly reach the January highs @ 1280 on Friday


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    • Posted by

    SPI Daily 6th January 2011 recap

    "the trend guide is yesterday's level @ 4735.

    if below it is moving down into 4713..

    if below 4713 then it’s moving back down into 4703 (Support)

    Resistance 4764"



    SPI Weekly and Daily range

    4703 is seen as major support during this quarter, however the market
    continued down following the daily range dynamics, but it then keeps on being propped up above the January 50% level @ 4703

    4703 continues to be a major support level during the first Quarter of 2011, whilst price remains trading above the weekly lows.

    However, the S&P is now nearing the January highs @ 1280.



    Posted by

    S&P (e-mini) Daily 5th January 201 recap

    Trend guide based on the Weekly highs @ 1263.

    whilst the S&P is below 1263 the trend bias is down....(random support 1152)

    Above @ 1263 and it's trying to move towards the January highs @ 1280



    S&P Weekly and daily range..

    Early selling pressure but it quickly changed, with price trading above 1263 and heading towards the daily highs on Wednesday...

    and then likely to continue up towards the January highs by Thursday

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    • Posted by

    SPI Daily 5th Janauary 2011 recap

    whilst the SPI is below the weekly 50% level @ 4752 the trend bias is down towards the January 50% level @ 4703.

    trend guide 4735

    resistance 4764



    SPI Weekly and daily range

    The SPI was either going to rise up from 4735 and hit resistance @ 4764 and then reverse down..

    or it was going to continue down into the January 50% level @ 4703.

    As per Weekly report, 4703 is a critical support level during this Quarter, and my expectation is that the SPI will continue higher.

    However, as per US market report, I'm looking for the same pattern in the S&P 500...

    if US markets follow the same pattern down into their 3-week lows, then the Australian market will be below critical support levels.

    Like all good support levels, it is often based on the Friday close and the following week, as to whether the market continues upwards from a lower weekly open...

    or Friday closes below and continues lower, as the S&P moves down into their own support levels.


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    • Posted by

    S&P (e-mini) 4th January 2011 recap

    There is a break out of the Monday highs, therefore there's an expectation that the trend will continue towards Tuesday's highs (random resistance)

    trend guide @ 1262.75



    S&P Weekly and daily range

    my view is that a daily range breakout would normally continue towards the following daily highs.

    Instead the S&P dipped down into the trailing channel high @1258, resulting in choppy trading day aroubd the highs





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    • Posted by

    SPI Daily 4th January 2011 recap

    I favour an 'inside day' that's going to remain between the blue channels

    the spiral filter @ 4724 matches the daily channel lows @ 4723-28.

    if above those lows, then the market is trying to rise upwards



    SPI Weekly and daily range

    Higher daily open on the back of the S&P rising on Monday...

    but then the SPI followed an inside day remaining within the channels, as 4723-28 provided support and a rise upwards..


    And then Friday's breakout and the weekly 50% level @4752-56 the formed resistance


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    • Posted by

    S&P (e-mini) 3rd January 2011 recap

    trend bias is to towards the Weekly highs (random resistance), and the possibly towards the January highs, as per Weekly report.



    S&P Weekly and daily range

    first day of 2011 and the S&P continues to trend upwards, with the daily and weekly highs providing little resistance.

    Whilst the S&P remains above 1263, the trend bias is to move towards the January highs.



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