Index, Forex, Stocks 19th Feb 2011 Weekly

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Posted by

S&P (e-mini ) 18th Feb 2011 Daily recap.

S&P has reached 1339 and 2nd resistance, with the expectation that Friday will move down 8.5 to 14 points.

either the market continues down, or Friday moves up into the 3rd Resistance @ 1347, and then next week's highs



S&P Weekly and Daily range

There were two possible patterns on Friday

#1. Remains below the Daily and Weekly highs, and moves back down (8.5 to 14 points)

#2 The trend continues up from the Daily 50% level towards next week’s highs.


The Weekly highs at 1339.50 pushed the S&P down, but not down far enough into trailing support levels, and once again it has followed the daily range towards higher highs on Friday.

Monday looks to be moving into 3rd resistance @ 1347.



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    • Posted by

    SPI Daily 18th February 2011 recap

    My view is that Friday will move down towards the target and support levels

    Therefore if shorting we need to see the market below 4918/20


    SPI Weekly and Daily range.

    Same view as the past few days, whilst below the certain levels in the daily range, the trend bias was to move back down towards the daily channel lows (42 points).

    Friday did move down, but once again it remained in a tight trading range below those levels, without any of the range movements of 21 points






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    • Posted by

    S&P (e-mini ) 17th Feb 2011 Daily recap.

    Above 1331 and Thursday looks to be following the daily range up towards 1339.

    1339 is seen as 2nd resistance.



    S&P Weekly and Daily range.

    Price has continued up into the Weekly highs, and 2nd resistance.

    Now it’s a waiting game to see if there is a 8.5 to 14 point reversal,...

    or a continuation up towards 1347.





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    • Posted by

    SPI Daily 17th February 2011 recap

    we have the same pattern as yesterday…

    If below 4918-25 trend bias is to move down towards the channel lows @ 4886 (42 points)



    SPI Weekly and Daily range...

    Either the SPI was going to continue towards the Weekly highs, or remain below 4918.

    It remained below 4918, but it didn't complete a 21 to 42 point down move.

    Instead the previous days level @ 4910 provided support, as what happened on Wednesday. (Tuesday's level @ 4894) provided support



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    • Posted by

    S&P (e-mini ) 16th Feb 2011 Daily recap.

    Weekly resistance levels remain 1331, 1339.50, 1347...

    With the expectation that each level can provide resistance of 8.5 to 14 points.

    So far 1331 has provided the first 8.5 point reversal



    S&P Weekly and Daily range.

    S&P has followed the Daily pattern upwards on Wednesday, providing another 8.5 point reversal back down into the trailing channel @ 1329.

    Based on the current price action, I would think that the S&P will continue towards the Weekly highs over the next 2-days.



    Posted by

    SPI Daily 16th February 2011 recap

    Trend bias is to continue towards the Weekly highs…

    However, whilst the market is below 4910-16 my view is that price is moving down towards 4888 (42 points down from Monday’s highs).



    SPI Weekly and Daily range.

    Early resistance from 4910-16 of 21 points (twice today), but a failure to complete the move down into the Channel lows (R42 points).

    At this stage, whilst the market remains above the higher timeframe level of 4883, the Primary cycle trend is towards 5093.





    Posted by

    S&P (e-mini )15th Feb 2011 Daily recap.

    "Tuesday is seen as a continuation of yesterday's high @ 1331 (Resistance)

    I would like to see the market continue down 8.5 to 14 points from Monday’s highs"



    S&P Weekly and Daily range.

    As per Weekly report, there are three resistance levels in the market during February

    1331, 1339, & 1347.

    So far we have hit 1331 and stalled.

    However, any further weakness in the current trend needs to be a validated by a daily close below the Weekly level @ 1314.75

    And as noted in the Weekly report,…

    "There are numerous instances when the levels will provide resistance of 8.5 to 14 points during the trading day, which is the statistical range."

    Monday’s high and Tuesday’s low is 8.5 points



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    • Posted by

    SPI Daily 15th February 2011 recap

    Resistance 4929-35

    Support 4900.

    Expectation resistance will push the market down into support, and as low as 4894



    SPI Weekly and daily range.

    The SPI didn’t open high enough or rise upwards in early trading and hit resistance levels.


    Instead it moved down early, and then remained in a tight 21 point range for the rest of the day above support levels.



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    • Posted by

    S&P (e-mini ) 14th February 2011 Daily recap.

    Resistance @ 1331

    S&P Weekly and Daily range.

    As per Weekly report, there are a number of levels that are going to act as resistance, the first one being 1331.

    Monday's high @ 1331.25 and the outcome of  the first levels of resistance won’t be known until it is either trading below the Weekly level @ 1314.75

    Or continuing up towards the Weekly highs (2nd resistance)

    Ideally the first level of resistance would provide a 8.5 point reversal as a minimum move.






    Posted by

    SPI Daily 14th February 2011 recap

    Monday's highs are seen as resistance levels @ 4892/98.

    If above 4898, expectation that the market is rising upwards 42 points towards the Weekly highs.

    SPI Weekly and Daily range.

    At the open of the trading day my view was for the market to move down from resistance levels, with a minimum move towards 4871, and then judge the trading day after that.

    However, at 10.40 am buying came into the market resulting in a breakout of the daily highs @ 4898, and a trend bias towards the Weekly highs @ 4935.

    With the market now trading above the Quarterly and Monthly highs @ 4883, there is a trend bias to continue towards 5093, based on the Primary cycle.

    The trend will be helped or hindered by the price action in the S&P 500




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