Index, Forex, Stocks, Commodities 18th June 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

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/






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    • Posted by

    SPI Daily 17th June 2011 recap

    Friday’s trading is based on whether price consolidates above the support levels @ 1259, and sets up new weekly levels for next week, that will provide a potential continuation upwards:- short-term counter-trend move.

    Support 1259-1261 (8.5 to 14 points)



    S&P Weekly and Daily range....

    8.5 to 14 point rise upwards from 1259/61 of 14 points has resulted in the S&P remaining above the June low support levels...

    This has set-up new levels for next week, that will be used for a potential short-term counter-trend move upwards.

    Read Weekly Report




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    • Posted by

    SPI Daily 17th June 2011 recap

    Today's trading is based on whether the JUNE lows supports the trend and Friday rises upwards...4515-22 (resistance)

    or whether the Market follows the 5-day range towards Friday's lows:- trend guide 4484.




    SPI Weekly and Daily range


    Market opened above 4484 and pushed up towards the resistance levels @ 4515-22, as part of retesting Thursday’s breakout.

    Once the market reversed below 4484, the trend bias was to continue towards Friday’s lows.

    However, the June lows @ 4460 continue to support the current downward trend.

    Weekly report out tomorrow






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    • Posted by

    S&P (E-minis) 16th June 2011 Recap

    S&P is down into its critical level (support) @ 1254-59, and as per Weekly report I would start to look for counter-trend moves upwards from next week....

    Today can find support around it's daily lows, and close back towards the 5-day 50% level:- resistance.




    S&P Weekly and Daily range....

    S&P remained between support levels and daily resistance (50% daily), rotating in 14 point ranges

    A continuation upwards from next week will depend on how Friday closes and next week's levels form.



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    • Posted by

    SPI Daily 16th June 2011 recap

    Today's trading is based on whether the market continues down into the Weekly and monthly lows... @ 4660/62

    or we have a similar pattern as Tuesday and the market rises upwards 42 points, and continues towards 4549.




    SPI Weekly and Daily range

    Market opened below Thursday’s lows @ 4516, tested it, and was rejected down into the June lows @ 4460/62, as part of the monthly cycle

    As Per Weekly report, once both the SPI and S&P move down into the June
    lows, I'm looking for a short-term counter trend move upwards.

    Therefore Thursday needs to hold support and Friday close upwards.....


    Note:- DOW is still 150 points away from it's JUNE lows, so it can drag it down lower (1-day).

    However, any JUNE support is only seen as temporary, as I have the trend
    moving towards lower lows in July







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    • Posted by

    S&P (E-minis) 15th June 2011 Recap

    Whilst below the Weekly @ 1285.25, the trend bias is to move back down....

    The Daily trend guide is 1278.50, and if below Wednesday can move back down into the daily lows, as part of the Weekly level rejection pattern



    S&P Weekly and Daily range

    After the Weekly high resistance on Tuesday @ 1285.25, the trend guide was based on the 5-day 50% level @ 1278.50.

    if above it was a random pattern of 8.5+ points...

    but once below it was another push back down towards the lows.

    Critical support levels come into play from Thursday @ 1254-59....

    Simply because there is a larger Primary reversal pattern that can send the market lower, as mentioned in last week's report.




    Posted by

    SPI Daily 15th June 2011 recap

    Resistance 4608-13

    Support 4576.



    SPI Weekly and Daily range.

    Whilst the SPI was above 4576, the trend bias was up, however there were a number of levels that were going to play a resistance role today @ 4608-13

    The Market moved down on open , however the support levels failed to push the market towards the highs…

    Instead support @ 4576 formed resistance for the rest of the day.






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    • Posted by

    S&P (E-minis) 14th June 2011 Recap

    Resistance 1284-85

    looking for a continuation down on Tuesday.




    S&P Weekly and Daily range. (SEPT CONTRACTS)

    As noted in the Weekly report, if the market had reached 1259 on Monday I would look for a continuation upwards.

    I was looking for the channels in the Weekly and Daily range @ 1284/85 to provide resistance, and push the market down once again:- 8.5 to 14 points

    However, that didn't play out, as the market has stalled.




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    • Posted by

    SPI Daily 14th June 2011 recap

    Trend bias is down this week towards the Weekly and Monthly lows @ 4460/62

    Trend guide 4547

    Random support 4507 (Tuesday's lows)

    Random resistance 4591-94 (Tuesday's highs)



    SPI Weekly and Daily range.

    Early push downward on Tuesday, but then the stock market rallied after China reported strong industrial production.

    This saw the market move towards Tuesday’s highs @ 4591-94, stalling, and reversing down, which aligns with the Weekly level @ 4576.

    As noted in the Weekly report, I’m looking for a short-term counter-trend move upwards, but I would have preferred it happening from the June lows @ 4460, and also the S&P rising up from 1259.

    That exact 'bottom pattern' hasn’t played out…

    Therefore the rest of this week is simply defined by the Weekly level @ 4576.

    If above 4576, the market is closing the gap from 2 weeks ago, with the first target the Weekly 50% level, and could go as has as 4697





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    • Posted by

    S&P (E-minis) 13th June 2011 Recap

    I would focus on trying to achieve 8.5 to 14 points using random support or resistance.

    Resistance 1274-77

    Support 1259-1263



    S&P Weekly and Daily range.

    There was a breakout of Friday's lows, therefore there was an expectation that Monday would try and move down into 1259/63...

    1259 is the June lows, which is part of the current monthly cycle.

    Daily resistance provided a 8.5 move downward, however it didn't reach random support levels.







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