Index, Forex, Stocks, & Commodities 14th MAY 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

http://www.oilboil.blogspot.com/

Gold & Silver Weekly Reports

http://goldcoppersilver.blogspot.com/




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

http://aussie-stocks.blogspot.com/





Posted by

S&P (e-mini ) 13th MAY 2011 Daily recap.

Thursday’s price action could see the Market move towards the Weekly and daily highs…

Or remain within the blue channels.


S&P Weekly and Daily range

Consolidating trading day between the channels, as the market continues to remain above the higher timeframe support levels @ 1324/1331

Weekly report out later



Posted by

SPI Daily 12th MAY 2011 recap

Current price action suggests that the trend will continue down into the Weekly lows today or by tomorrow

Resistance 4740

The critical level today is 4711-13, and whether the trend continues down or not.



SPI Weekly and Daily range.

MY view was that the SPI would continue to move down, if it opened around 4740…

Instead it opened @ 4711-13, which supported the market most of the day, until late, when support failed, resulting in the trend following the Weekly range towards the lows by Friday (4659-72)







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    • Posted by

    S&P (e-mini ) 11th MAY 2011 Daily recap

    Weekly & Daily highs Resistance 1361

    Support 1347



    S&P Weekly and Daily range.

    S&P reversed down on Wednesday, without hitting the resistance levels in the Weekly and Daily range:- 1361

    I wasn’t expecting the S&P to reverse back down into the Weekly 50% level, without first hitting resistance.

    My view was that if it moved down into 1347 early in the day, it would continue up towards the highs (higher daily close).

    The view that the S&P is going to continue higher this week has dramatically fallen based on Wednesday’s close



    Posted by

    SPI Daily 11th MAY 2011 recap

    The SPI is below support levels, and I have the view that this week is trying to move lower:- break and extend pattern into Weekly lows

    However, just like yesterday, unless it is below the support levels @ 4738-40, it doesn't favour my expectation

    Trend guide 4761

    Resistance @ 4787-90.


    SPI Weekly and Daily range…


    4761 provided support in early trading, but it failed to continue upwards, as the higher timeframe support levels continue to form resistance levels this week.

    It wasn’t until late in the day, that saw 4761 provide support once again resulting in a higher daily close.

    The expectation of the down move in the SPI isn’t being helped by price action in the S&P 500.

    As suggested in the Weekly report, the trend bias in the S&P 500 is to continue higher, which is helping to keep the Aussie market afloat.

    A fake break pattern in the SPI will be helped by a breakout of the daily highs, as the market moves above the Weekly level @ 4786

    And currently this looks like it could happen overnight, if the S&P 500 continues to push up towards the Weekly highs.




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    • Posted by

    S&P (e-mini ) 10th MAY 2011 Daily recap

    Whilst the S&P continues to remain above 1331, and also the Weekly 50% level the upward trend remains stable.


    S&P Weekly & Daily range.

    S&P has continued up into the daily highs, and likely to move into the Weekly level @ 1361.75 on Wednesday

    However, using the channels in the daily range, I didn’t know whether the trend would reach the daily highs, or there was going to be another choppy trading day like yesterday.

    It wasn’t until the market began to consolidate above 1347, was there more buying into the highs




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    • Posted by

    SPI Daily 10th MAY 2011 recap

    Based on the current price action of being below support levels, I have the view that this week is trying to move lower

    by looking that the 5-day range and the spiral filter...it doesn't support my view, as yet. For that to happen it needs to be trading below 4749-55

    The trend bias is to move down towards the R84 low @ 4713



    SPI Weekly and Daily range….

    Early rise upwards from 4755, but once again it failed to move beyond 4786, reversing and closing below 4749-55.

    This help set-up a confirming pattern for more weakness towards a lower daily close:- target 4713 (daily low 4714)

    The current price action is part of an orderly pattern towards this week’s lows @ 4659-72.










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    • Posted by

    S&P (e-mini ) 9th MAY 2011 Daily recap

    Based on last week's price action, and today's price action (rising up from the Weekly 50% level)...

    the trend bias is to move towards the upper Weekly levels

    However, Monday can remain within the blue channels and consolidate until Tuesday.




    S&P Weekly and Daily range

    Weekly 50% level support, and Monday remained within a tight 8.5 range









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    • Posted by

    SPI Daily 9th MAY 2011 recap

    This week's trading is based on whether the trend continues down in an orderly manner (Weekly range)

    or Whether last week was a 'fake-break'

    Trend guide 4755-61





    SPI Weekly and Daily range.

    The market opened above 4755-61, which was a first sign that the Market was moving into a ‘fake break’ pattern.


    The 2nd sign was if the SPI had remained above 4786

    The initial move was upwards (11:20am), but it then failed to continue higher, resulting in Monday remaining range bound between the two 50% levels in the daily range, until late in the day, which saw some weakness into the close. (below support)

    Today’s price action suggests the market is continuing down towards the Weekly lows @ 4659.

    That expectation will be helped or hindered by the price action in US markets overnight.

    Currently the S&P is rising up from it's own Weekly 50% level @ 1336, as it remains above it's Support levels. (Read US Index report)


    Therefore, the first signs in S&P futures doesn't favour more weakness in the SPI
    Posted by


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