Index, Forex, Stocks 9th April 2011

Weekly Index & Forex Reports out now...

Australian Index (SPI) Futures

DOW and S&P Index Futures


OIL Futures:- OIL BOIL

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

S&P (e-mini ) 8th April 2011 Daily recap.

Support 5-day lows @ 1322.

If the market doesn’t continue higher, then there’s the possibility that this week finishes with a ‘no control’ 5-day pattern

S&P Weekly and Daily range.

S&P moves back down into the Weekly level and the 5-day lows, finding support once again.

A 'no control 5-day pattern' is when the market consolidates in a tight trading range and Friday closes near the middle of the range, or near the open (Last Monday)

The week after a ‘no control’ pattern will often continue to trend outward, and based on the current levels, that bias is likely to be down

SPI Daily 8th April 2011 recap

Trend guide 4948

Support 4914

if it holds support, then there could be a late rise up towards the brown filters and Friday’s highs:- 4965

SPI Weekly and Daily range

SPI didn’t move down into support levels, but it has continued to move up towards the daily and Weekly highs @ 4962-65.

Weekly report out tomorrow.

S&P (e-mini ) 7th April 2011 Daily recap.

intra-day support of 8.5 points around 12277-87 (DOW) and 1320-1322 in the S&P.

Matches the weekly levels in both markets

S&P Weekly and Daily range

Wednesday’s highs will often push the market lower on Thursday, and into the daily lows, with a random support pattern of 8.5 points.

The DOW hit those levels, whilst the S&P didn’t reach that support level (low 1322.25) on Thursday, but continues to remain above the Weekly level

Whilst the S&P remains above the support level @ 1322 the trend bias is to move upwards

SPI Daily 7th April 2011 recap

Trend guide 4943

Above 4943 and there are random resistance levels around 4962-69

Below then the first target is yesterday's levels @ 4924, as this could support the trend once again, but there's always the possibility that price moves down towards the 5-day 50% level and towards the 5-day lows.

SPI Weekly and Daily range.

The market didn’t move up towards the Weekly highs, instead it remained below 4943 for most of the day, without continuing lower.

The expectation of the market completing the move into the Weekly highs on Friday will be determined by whether the S&P 500 remains above 1322, or not.

S&P (e-mini ) 6th April 2011 Daily recap.

We've had a 2-day stall pattern without the market moving below the weekly level.

This leads me to think that the trend will continue to move higher on Wednesday, and this tight trading range will eventually lead to a breakout and a move towards the Weekly highs

S&P Weekly and daily range

Early rise up from the daily 50% level on Wednesday, but once again the daily highs resists the market from rising higher.

Whilst the trend remains above 1322 the trend bias is to move higher, and follow the trend towards the Weekly & Monthly highs

However, after 3-days of trying to move upwards, but failing….

I’d keep my eye out on Thursday, if it’s below the daily 50% level.

SPI Daily 6th April 2011 recap

Trend guide 4922-24

Either the trend continues to move up towards the Daily and Weekly highs


it's down towards 4844.

SPI Weekly and daily range

Early selling but late buying put the market back above 4924, which then saw further buying….

As the market moves towards the Weekly and monthly highs

S&P (e-mini ) 5th April 2011 Daily recap.

Monday has remained within a tight trading range, resulting in the daily range contracting. This will eventually lead to a breakout of the daily and a move towards the Weekly highs, or down towards the Weekly 50% level.

S&P Weekly and Daily range.

Tight trading range over the past 2-days, as the market continues to remain above the Weekly level @ 1322, but within the daily range….

With the contraction of the daily range, my view was that Tuesday could breakout and move towards the weekly levels, but once again it fails to move beyond 8.5 points

As per Weekly report....

Whilst the market remains above the Weekly level @ 1322, the trend can continue up towards the Weekly and monthly highs @ 1246-1253,


The S&P is once again trading around the Yearly highs @ 1331, which can push the market back down towards the April 50% level @ 1304.50, and as far as the current Weekly 50% level @ 1296

SPI Daily 5th April 2011 recap

Trend bias @ 4911, and whether price continues to move towards Tuesday's highs, as part of a move towards the Weekly and monthly highs...

or whether there is a 2-day reversal back down towards the Weekly level @ 4813

SPI Weekly and daily range….

Early rise up from 4911, but a failure to keep it going towards Tuesday’s highs.

The market then remained in a tight holding pattern above 4911 until a late touch in afternoon trading( @4911) saw a push upwards into a higher daily close

S&P (e-mini ) 4th April 2011 Daily recap.

Trend bias is the Weekly 50% level @ 1322…

Support:- 1320-1322

S&P Weekly and Daily range

This week’s trading is based on whether the trend continues up towards the Weekly and Monthly highs in April…

Or whether this week begins with a 2-day reversal pattern towards April 50% level, and as low as the Weekly 50% level.

And yesterday’s price action didn’t provide traders with the opportunity to trade longs off intra-day support. (4.25 to 8.5)

SPI Daily 4th April 2011 recap

Resistance @ 4918-24

Resistance of 21 points towards 4903.

SPI Weekly and daily range.

The SPI is currently following a double weekly high pattern towards this week’s highs @ 4965.

However, Monday levels were seen as resistance, and a 21 point reversal was based on filling Friday’s high gap @ 4902.

The movement towards 4965+, or down into 4813 will be helped by the price action in the S&P over the next 2-days.