SPI futures Australian Stock Market 8th Sept 2011 recap

Trend guide and resistance @ 4143/47

If below down side is 42 points into the Support levels (50% level)


SPI Weekly and Daily range


SPI didn't hit resistance @ 4243-47, and support levels didn't hold within the daily range.

Market continued down the Primary range of 84 points from sycom highs and then moved into a consolidation pattern below the 50% levels. for the rest of today.














Posted by Frank Dilernia

S&P 500 E-mini Futures 7th September 2011 recap

A HOOK pattern normally occurs on Tuesday, when the market continues down on Tuesday but then reverses and closes back above the Daily 50% level and Weekly 50% level.

Confirmed by a close above 1179.

Once that happens the trend bias moves back towards higher highs by Friday...or on this occasion, back towards 1210 by Friday
S&P Weekly and Daily range.



As mentioned in yesterday’s recap, there was a potential HOOK pattern forming, and more buying during globex hours on Tuesday formed the first stage of a Weekly HOOK pattern


The 2nd stage of the HOOK pattern had to be validated with price trading above the channel highs @ 1179 on Wednesday….

And now price is heading back towards the Weekly level @ 1210, and could go as high as the Weekly highs @ 1229.50 by Friday















Posted by Frank Dilernia

SPI Futures Australian Stock Market 7th September 2011 recap

Trend guide 4135 (Weekly 50% level)

Either the market remains below this level and moves down 42 points…

Or it continues upwards.
SPI Weekly and Daily cycles

The market opened above the Weekly 50% level @ 4135 and has continued towards a higher daily close.


The only random resistance zone around 4160 ( providing 21 points), but it then continued upwards and has moved back towards retesting Monday’s Breakout @ 4199.

S&P has continued higher during globex hours, closing above the Weekly and Daily 50% levels, and forming a potential Weekly HOOK pattern.

This is on the anticipation that Obama is coming out with a new jobs package on Thursday











Posted by Frank Dilernia

S&P 500 E-mini futures 6th September 2011 recap

Monday's breakout of the 5-day range should continue down into Tuesday's lows...

However, there's random support around the Weekly levels...(1130)

S&P Weekly and Daily cycles



Tuesday’s pattern didn’t follow weakness into the Weekly level @ 1130.

Instead price has moved back towards the daily 50% level and stalled, without forming a HOOK pattern (as yet).

A HOOK pattern normally occurs on Tuesday, when the market continues down on Tuesday but then reverses and closes back above the Daily 50% level and Weekly 50% level.

Once that happens the trend bias moves back towards higher highs by Friday....

 or on this occasion, back towards 1210 by Friday











Posted by Frank Dilernia

SPI Futures Australian Stock Market 6th September 2011

Resistance 4094-4101

Trend bias is to continue from Monday’s breakout down into Tuesday’s lows @ 4043

SPI Weekly and Daily range
Expectation that price would continue lower, as part of Monday's breakout.

This saw the market rise up into resistance levels.... (4101 Monday's day session level)

 and then continue towards a lower Daily close.








Posted by Frank Dilernia

S&P 500 e-mini futures 5th September 2011 recap

Trend bias is down whilst it's below the Weekly 50% level @ 1170, as part of the September 50% level rejection pattern

Trend guide @ 1158….
S&P Weekly and daily range…



Once Monday closed below 1158, the trend bias was to follow the overall trend, with an expected break of Monday’s lows.

A breakout of Monday’s lows, should continue to follow the daily range in the short-term towards Tuesday’s lows.

A number of the lower weekly levels can act as random intra-day support levels (8.5 to 14 points)...

but the overall trend is towards the September lows





















Posted by Frank Dilernia

SPI Futures Australian Stock Market 5th September 2011 recap

Resistance levels @ 4191-97

First target down is 4161 and then towards Monday’s lows @ 4135-37 (matching Weekly 50% level.

 
SPI Weekly and Daily range.

 The SPI has continued down on Monday, reaching the Daily lows, which match the Weekly 50% level. (4135-4137)

Often this can result in a swing upwards, helped by a matching support pattern in the S&P 500

However, this isn’t one of those times, as markets are in the process of being rejected down from their September 50% levels....

 and the S&P is being pushed down from its own Weekly 50% level.
















Posted by Frank Dilernia

Index, forex, stocks, Commodities 3rd September 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/













Posted by Frank Dilernia

S&P500 E-mini futures 2nd September 2011 daily recap

After yesterday's price action, September has all the hallmarks of moving towards the Sept lows over the coming 10-days.

Simply trade on the side of the daily 50% level with downside target Friday’s lows (first target 14 points).


S&P Weekly and Daily range.


After Thursday's price action, Friday provided an ideal set-up to capture the September's monthly rejection.

The Daily close below the Weekly level and along with the shift in the daily channels, help set-up a high probability short trade. (first target 14 points...

And then the trend followed the daily range towards Friday's lows


Weekly report out later.















Posted by Frank Dilernia

SPI futures Australian Stock Market 2nd September 2011 recap

After yesterday's fake breakout of Thursday's highs, and the failure of the S&P m to continue higher, it now looks more like markets will move lower..

Today:- trend guide 4265.

Break of support @ 4236 look for more weakness towards 4181.


SPI Weekly and Daily cycles

After Yesterday’s breakout failure, today had more reason to sell down using the Monthly 50% level as the trend guide


Along with more weakness with a late close below support @ 4236, but that didn't eventuate towards 4181 (maybe during sycom)

Friday’s sell down has all the hallmarks of following the September low pattern over the next 10-days.

Unless a miracle happens overnight with better than expected payroll numbers in the US overnight….

Current price action suggests more weakness in September

Weekly Reports out tomorrow, which should make for interesting reading.










Posted by Frank Dilernia

S&P500 E-mini futures 1st September 2011 daily recap

S&P looks like it wants to go higher, with the Wednesday closing above the Weekly highs and starting the new month above the September 50% levels.

It's simply based on those levels

S&P Weekly and Daily cycles


In a bull market or any other positive environment the S&P would have continued higher based on Wednesday's closing price using 1217 as support. (rise 8.5 to 14 points completed), but failure to continue upwards.

And as we know this isn't one of those times, and Thursday's price action reflects that, along with yesterday's  warning in the Australian market (failure to continue with the breakout)

As per Weekly report…..Once the next 5-days are over, then the week after next (Sept 5th) will let us know whether the trend continues down towards the September lows....



Or continues upwards using the September 50% level as the trend guide


And it's starting to look like it's going lower, if it begins trading below the Weekly level @ 1197.50











Posted by Frank Dilernia
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