Index, Forex, Stocks 2nd April 2011

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

http://www.forexspread.blogspot.com/

OIL Futures:- OIL BOIL

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


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S&P (e-mini ) 1st April 2011 Daily recap.

Above the Weekly level @ 1319.75 and trend bias is up towards the Daily and Weekly highs:- resistance.

Possible resistance 8.5 to 14 points



S&P Weekly and Daily range.

Friday continued upwards reaching the highs, which then resulted in a 8.5 point reversal.

S&P Weekly report out later





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SPI Daily 1st April 2011 recap

Trend guide @ 4857

Expectation that the Trend will continue up towards the Daily highs, to complete the break and extend pattern from Wednesday.

Random resistance @ 4891



SPI Weekly and daily range

Early rise up from 4857 completed the break and extend pattern @ 4891.

Depending on the price action in the S&P overnight, the SPI is either going to follow the double high Weekly pattern into next week’s highs, and the 'April highs'

Or next week begins with a 2-day reversal back down towards 4813, starting with today's highs as the resistance/reversal zone @ 4891



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S&P (e-mini ) 31st March 2011 Daily recap.

Resistance 1335 (weekly highs)

Random support 1316.



S&P Weekly and Daily range.

Extremely tight trading range on Thursday and the last day of the month, without the trend continuing up towards the daily and Weekly highs.

Trend guide remains 1319.75 using the Weekly level



Posted by

SPI 31st March 2011 Daily recap

Spiral filter and channel @ 4851 is my support level for early trading, with the expectation that the trend is moving towards the highs @ 4882/84



SPI Weekly and daily range.

My view was that the SPI would continue towards 4882/84, as part of the Weekly trend, and also the break and extend pattern from Wednesday’s highs into Thursday’s high.

Instead the market moved down 21 points, and remained below 4851 until later trading.

A continuation of the move towards 4884 will depend on the price action in the S&P 500.

Above 4884, and the next upper target is 4950 (March highs)



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S&P (e-mini ) 30th March 2011 Daily recap.

Trend guide Weekly level @ 1319.75

Either the trend remains below this level and continues down towards the Weekly 50% level over the next 2 –days…

Or it follows the upward bias towards the Weekly highs @ 1335.



S&P Weekly and Daily range

S&P remains within the daily range, but above the Weekly level @ 1319.75

And most likely continue towards the Weekly highs by Friday.



Posted by

SPI 30th March 2011 Daily recap

SPI trading around Wednesday’s high and the Weekly level @ 4804

Today’s trading is based on whether the market remains below these levels…

Or whether the trend continues higher, and towards the Weekly highs @ 4884

Resistance 4810-4816



SPI Weekly and daily range.

At the start of the day my view was that the SPI would move down from resistance and continue towards 4770/72.

The market opened around resistance levels, therefore that’s the way I looked at it.

However, that changed by 11:20 am with the timeframe close above those levels forming support.

It didn’t reach the highs @ 4878-884, but any further gains will depend on the price action in the S&P 500 overnight.


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S&P (e-mini ) 29th March 2011 Daily recap.

Whilst the market remains above the March 50% level the trend bias is upwards...

Trend guide and support @ 1301, which could see a push up towards the channel highs 1313.25. (14 points)



S&P Weekly and Daily range

S&P has moved up from Tuesday’s support @ 1301 and continued towards the daily highs...

and looks to be moving towards the Weekly level @ 1319.50 by Wednesday’s cash market open



Posted by

SPI Daily 29th March 2011 recap

The SPI is trading below key levels in the market during the current month of March, with the expectation it's trying to push the trend back down towards the Weekly 50% level.


Support 4732


SPI Weekly and Daily range


My view whilst the market was below 4772 the trend bias was down.


However,as noted in this morning's report…


"Moves down in the 5-day 50% level @ 4732 and then swings back towards 4770, and becomes choppy around that level for most of today"


The SPI didn’t move down far enough for a swing back towards 4770, and then late buying has seen the market follow the trend towards the highs, which is towards the upper Weekly level @ 4804

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    • Posted by

    S&P (e-mini ) 28th March 2011 Daily recap.

    Blue channel highs will define whether the trend moves upwards, or possibly rotates down towards the channel lows.

    Trend guide @ 1307.50

    Resistance 1320



    S&P Weekly and Daily range.

    There were two patterns that I was looking for today using 1307.50…

    #1 a push upwards into the daily highs and Weekly level (resistance) and then a lower daily close…

    #2 a move down towards the channel lows @ 1291, matched with the Weekly 50% level.

    Late selling after the cash market closed has pushed the S&P lower





    Posted by

    SPI Daily 28th March 2011 RECAP

    If we follow the higher timeframe resistance @ 4772, then the trend bias is down towards the Weekly 50% level @ 4713

    First target daily 50% level



    SPI Weekly and Daily range

    As per Weekly report, last week’s price action is seen as a retest of the breakout, with the expectation that price will try and push lower over the next 5-days.

    Today’s trading remained below that resistance level, but failed to continue towards the Weekly 50% level.

    Instead it remained choppy around the daily level @ 4753


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