Index, Forex, Stocks, Commodities 9th July 2011 Weekly

Weekly Index & Forex Reports out now...

Australian Index (SPI) Futures

DOW and S&P Index Futures


OIL Futures:- OIL BOIL

Gold & Silver Weekly Reports

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

S&P (E-minis) 8th July 2011 Recap

Break and extend pattern has completed in the Weekly timeframe from 1295 into this week’s highs @ 1350.

1350 is seen as resistance

S&P Weekly and Daily range.

Bad Jobs numbers sent the S&P down from the Weekly highs into the trailing support levels in the 5-day range.

Weekly report out later

SPI Daily 8th July 2011 recap

The market is once again above the Weekly levels @ 4592/95, therefore there is a view that the market is rising upwards...

Today's ideal pattern would be a 21 point down move from open into 4595/97, and then the trend continues higher for the rest of the day.


SPI Weekly and daily range

The SPI sold down on open 21 points, and then it has risen for most of the day….

This was helped by a shift in the daily level @ 4598, along price trading above the Weekly level of 4592.

However, I expected more buying from 14:30 onwards, when the market started to consolidated above Friday's highs @ 4632....

As part of a move towards 4675 (Weekly highs)

S&P (E-minis) 7th July 2011 Recap

Expectation that the trend will continue towards the Weekly highs @ 1350

Support 1337.

Resistance 1347/50

S&P Weekly and Daily range

Break and Extend pattern has completed from last week's breakout @ 1295 to this week's highs @ 1350.

These Weekly highs are seen as resistance during the current week...

However, whilst price is above Thursday's highs @ 1347, it's likely to continue to move higher & towards Friday's highs

SPI Daily 7th July 2011 recap

Trend guide @ 4589

Support 4556

SPI Weekly and Daily range

I’ve been bullish all week, as part of a continuation towards the Weekly highs, but the levels in the Daily range haven’t supported the market rising upwards.

Today’s trading moved down on open but it didn’t move down far enough to trade longs from support at 4556.

And the first time this week that the market has spent above the Daily levels (4589), the trend failed to continue higher.

With the market failing to move higher, and price trading below the Weekly level @ 4592, it won’t surprise me to see the market slip back into the Weekly 50% level by tomorrow.

Unless it breaks out of the daily high range on Friday @ 4598

S&P (E-minis) 6th July 2011 Recap

Trend bias is to continue towards the Weekly highs @ 1350

Daily bias is defined by the channel high @ 1335

resistance levels around Wednesday's highs @ 1346.50


S&P Weekly and daily range

S&P remains in an upward trend, as it tries to move towards the Weekly highs @ 1350

However, the S&P moved inside the daily channel @ 1335 and completed a R14 spiral low.

Unless the S&P closes below 1325, helped by a 5-day low breakout, the upward trend remains stable, with random resistance levels in the daily range

SPI Daily 6th July 2011 Recap

Trend guide @ 4608 .If above the target is the Daily highs

Below 4608 and the trend bias is down into the support levels @ 4563-69

SPI Weekly and Daily range.

 I still have the view that the Market is trying to move up towards the Weekly highs and July 50%, but not whilst it's below the levels in the Daily range (4608)

Support levels came into play @ 4563/96, and the market once again moves into a consolidation pattern around the Weekly level @ 4592

S&P (E-minis) 5th July 2011 Recap

if the S&P is going to continue higher, then the channel highs @ 1329 come into play (R8.5 low)

S&P Weekly and Daily range.

There is a break and extend pattern in the Weekly range, which has a bias to continue higher in the short-term.

Buying support appeared around the channel highs @ 1329 using an R8.5 low, but the trend failed to continue towards the daily highs.

SPI Daily 5th July 2011 recap

Weekly support @ 4592, and I have the view that Tuesday will try and push up towards the Daily highs

Trend guide 4617

If below 4607 the market will try and make its way back towards 4558/69

SPI Weekly and Daily range.

 I was bullish that the Market would continue towards the Daily highs after Monday tested the Weekly level @ 4592 and found support.

As long as price remained above 4617, my view was that price would make its way towards Tuesday's highs.

Once the market failed to remain above that, and began to trade below yesterday’s level @ 4607, the trend bias was to follow the daily patterns towards lower support levels @ 4558/69 (4569 24 hour level not shown)

After a higher Weekly open and a 2-day stall pattern, there is always the possibility from the 3rd day the trend can continue higher as part of a move back towards the July 50% level.

However, as noted in the Weekly report, there is also the possibility that the trend revisits the lower July level if it fails to remain above 4592, and that will depend on the S&P 500 failing to move towards its own Weekly highs.

SPI Daily 4th July 2011 recap

Resistance 4638-45

Trend guide 4607

Support 4592

   SPI Weekly and Daily range

Expectation that around the resistance levels on monday price would move down (min 21 points) into the trend guide @ 4607.

4607 was a random support level, that was either going to push the SPI back towards the highs…Or it was going to fail,  and then see the trend move down into the Weekly level @ 4592.

That weekly level @ 4592 is now the trend guide for the rest of this week, as part of a move towards the Weekly highs & July 50% level @ 4675-86 (or not)