Index, forex, stocks, Commodities 27th August 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 500 E-mini futures 26th August 2011 recap

Resistance 1177

Trend guide 1160.25

Ben Bernanke coming ou, and i'm not so sure it's going to have a positive effect. It's below the Weekly 50% level with an overall bias to continue lower

S&P Weekly and Daily range.

Early selling pressure on the S&P as it’s pushed down from the Weekly 50% level, but it didn’t reached trailing daily support levels @ 1127.50

I’m not sure whether Ben’s speech was positive or negative, I just think the late rise was more to do with computer algorithm programs doing their thing.

Weekly 50% level resistance this week, but it’s likely to move upwards in the short-term, as part of rotating back towards the new monthly 50% level is September.

Weekly report out later

SPI futures Australian Stock Market 26th August 2011 recap

Today’s trading is based on whether the market continues towards a higher Friday close or not.

Support 4165

Resistance 4116

SPI Weekly and Daily range

Early rise upwards hitting resistance @ 4216 and drifting back down to close out the week near the 50% levels

The current upward move can’t break or close above the Weekly 50% level, which has the hallmarks of setting up for further falls coming into the end of the month and the start of September.

Ben Benanke speaks tonight at 11pm, and this will set-up whether the market follows a downward trend over the next 2-weeks, as part of a move towards the September lows.

Or the last week of the month continues to move up towards 4305, and aligns with the next monthly 50% level in September.

S&P 500 E-mini futures 25th August 2011 recap

I can't be confident that US markets will continue higher on Thursday more than 14 points (Thursday’s highs), because of 1177 forming resistance


S&P Weekly and Daily range.

S&P continued up into Thursday’s highs and reversed back down into the trailing 50% levels in the daily range.
Ben Bernanke is making a speech on Friday, but I’m not sure it’s going to have much effect in sending US markets upwards.

The current price action has all the hallmarks of heading lower coming into the end of August and into September, as part of the larger timeframe cycles.

And if they do announce another stimulus package (QE3), my bet it will coincide with the market reaching those September lows

SPI Futures Australian Stock Market 25th August 2011 recap

Whilst it's above 4202-06 the trend bias is to complete the first 21 range @ 4223.

once that happens I'm not sure whether the trend will continue to move up towards Thursday's highs

or reverse and follow a similar pattern as yesterday and move down into support levels:- first target 4185

SPI Weekly and Daily

Early rise upwards (21 points) and then the market reversed back down into trailing support levels. (first target 4185)

Not much more to say than that.

S&P 500 E-mini futures 24th August 2011 Recap

Trend bias is to continue up towards the Weekly level:- 1173/1177 (Resistance)

Using support levels @ 1143

S&P Weekly and Daily range

S&P has continued to move up from the August lows @ 1115 back towards the Weekly 50% level @ 1177

The levels in the daily range continue to provide ideal set-ups, and today the resistance levels @ 1173-1177, provided traders with a 14 point reversal downward before the market continued towards a higher daily close.

1173 is the Yearly 50% level & along with the Weekly 50% level @ 1177 can continue to act as resistance this week.

However, Obama is making a speech on Friday, and if there’s an announcement that QE3 or something that resembles it, the current reversal up from the August lows can continue towards 1245 by next week ( Monthly 50% level)

SPI futures Australian Stock market Daily 24th August 2011 recap

4218 to 4231 can act as resistance..

if below the Weekly 50% level @ 4206 it’s closing yesterday’s gap

SPI Weekly and Daily range…

Early resistance around the channel highs @ 4218 pushed the market down 21 points into the Weekly 50% level @ 4206…

And then down further than expected towards the Weekly level and the daily 50% level.

S&P 500 E-mini futures 23rd August 2011 daily recap

Tuesday's trading is part of a 2-day upward move from the August lows towards the Weekly 50% levels

Random resistance the daily levels.

S&P Weekly and Daily range…

Tuesday has continued upwards, as part of a 2-day reversal pattern, with the daily levels providing support, whilst the upper levels provide some resistance of (8.5 points)…

but those upper daily levels (50% level) were going to eventually going to break and continue upwards.

Trend bias is to continue up towards 1277

SPI Futures Australian Stock Market 23rd August 2011 Recap

Trend guide remains above 4071 (first target 21 points to 4094), and with a possible move towards the 50% levels again.


SPI Weekly and Daily range.

Same pattern as yesterday with an upward move from 4071 towards the daily 50% levels once again...

but then more upside buying late in the day, as part of a 2-day reversal up towards the Weekly level @ 4206

SPI remains well supported within the Weekly levels, as the S&P 500 remains above the August lows @ 1115....

and going through its own 2-day reversal pattern upwards.

S&P 500 E-mini futures 22nd August 2011 Daily recap

August lows @ 1115 could support the current trend and swing the S&P back towards the Weekly 50% level over the next 2-days

Trend guide is 1117.75. I lean to an upward move

Resistance:- 5-day 50% levels

S&P Weekly and Daily cycles

Monday has risen up from Monday’s daily level @ 1117.75, which coincided with the Monthly lows in August:- first target 14 points

The Daily 50%  levels were seen as resistance on Monday:- first target 14 points.

The S&P has followed last Thursday's 'sell pattern' and is once again consolidating around the August lows @ 1115.

And as noted in the Daily  report, my view is that the market will try and swing upwards and retest the
Weekly 50% level in the short-term...

However, the larger cycles are pointing to further weakness towards 1045 to 1015 by early September.

In the mean time, there's robust volatility within the daily ranges for day traders, as the market zig-zags within the higher timeframe cycles

SPI Futures Australian Stock Market 22nd August 2011 recap

"Trend 4064.

Above and first target is 4094, and as high as 4119."

SPI Weekly and Daily cycles

SPI moved up from the lows and went higher than expected in the early part of the day, reaching the daily 50% levels.

As noted in the Weekly report, the SPI can remain within the Weekly range (above 4029), as the S&P remains above 1115...

however, there is a trend bias to move towards the September lows.