Index futures, Forex, & Commodities 29th October 2011 Weekly Reports

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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S&P 500 e-mini futures 28th October 2011 Daily recap

Weekly breakouts, should in theory continue towards the monthly highs by next week:- break and extend patterns into next week's highs

That could happen as part of Thursday's break and extend pattern towards Friday's highs...

Support:- Weekly highs and Daily 50% level.


S&P Weekly and Daily cycles.

Slow trading day (choppy) without the expected continuation towards Friday’s highs….

And without price coming down into Support levels.

Weekly report out later




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SPI futures Australian Stock Market 28th October 2011 daily recap

Break and extend pattern from Thursday's highs has completed at Friday's highs @ 4425. This could result in Today revisiting the Weekly high @ 4345.

Resistance 4414-25


SPI Weekly and Daily cycles.

 As noted in Yesterday’s recap, the breakout of Thursday highs will often extend up into Friday’s highs.

The pattern was completed last night @ 4425.

The daily highs @  4414-25 were seen as resistance, which resulted in a reversal back down to
retest yesterday’s Weekly breakout @ 4345.

We have the same pattern as yesterday’s daily breakout, but this time it’s occurring in the
Weekly cycle (4345)

Therefore, we have an expectation that next week will an extend up towards next week’s
highs using this week’s highs as a trend guide.

That's obviously going to be helped or hindered by the price action in
US markets.

US markets have the same breakout patterns in both the Daily and Weekly
cycles.

This often leads to Friday moving higher- friday's highs (random resistance)

If US markets close on its highs, then it's mostly likely going to extend upwards early next week.

New Weekly levels out tomorrow.



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S&P 500 E-mini futures 27th October 2011 Daily recap

Weekly highs are seen as random resistance, as part of a move towards the 4th quarterly 50% level @ 1274.50

Don’t hold shorts above Thursday’s highs, as the Trend will continue to extend upwards.

S&P Weekly and Daily cycles

Favourable news out of Euro zone has resulted in the S&P breaking out of the daily highs and completing the move into 1274.50, as per Weekly report.

The breakout of the Daily highs can often see the trend extend up towards Friday's highs tomorrow....

Whilst the market remains above 1274.50, trend bias is to continue towards the November highs next week.





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SPI futures Australian Stock Market 27October 2011 Daily recap

Current price action favours Thursday being an UP day, as the market tries to make its way towards the Weekly highs @ 4345 by Friday

Confirmed with a breakout of Thursday’s highs @ 4279

4214 is support (spiral filter @ 4213)

SPI Weekly and Daily

Market moved down into Support levels and then rose upwards…

Then the news hit the markets on the euro zone financial package

RTRS-SARKOZY - NEW FIREPOWER OF EFSF IS ABOUT 1.4 TRILLION DOLLARS

Which coincidentally provided the platform for the market to breakout of the daily highs @ 4279, and continue towards the Weekly highs  @ 4345 on the same day.

Breakout of today's highs, will usually extend towards the following Daily highs, as part of a break and extend pattern.

And any further gains will also depend on US markets, as part of a larger upward trend towards the 4th quarterly 50% level @ 4519, as per the Weekly report.

And as the S&P continues towards 1274.50




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S&P E-mini Futures 26th October 2011 Daily recap

I would treat the S&P as range bound between the blue channels in the daily range.

S&P Weekly and Daily cycles



Wednesday ended up as a consolidating pattern within the daily channels....

 as the market continues to try and move towards the Weekly highs @ 1263, and the 4th Quarterly 50% level @ 1274.50






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SPI Futures australian Stock Market 26th October 2011 Recap

there is a possibility that price moves upwards today, and retests resistance levels @ 4218.


That could happen once the first 21 point range has completed down @ 4168


4218 is seen as resistance, but above & the next level is 4252

SPI Weekly and Daily cycles

Early move down into 4168 (21 points) and then a reversal up towards the Weekly level @ 4218.

This was seen as resistance, but then the inflation report came out better than expected.

The market rose on the new above the first resistance zone @ 4217-18, and up into the next @ 4252

 



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S&P E-mini Futures 25th October 2011 Daily recap

red filter as a trend guide


Support:- Daily 50% level.


Resistance:- Daily and weekly highs

S&P Weekly and Daily
Early rise of 8.5 points from the red filter, but then a reversal down into the daily 50% level, which provided a support and a precise 14 point rise….

But then further weakness into the close, and likely drift towards the Weekly level @ 1212.50 by tomorrow



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SPI futures Australian Stock Market 25th October 2011 Daily recap

Today's trading is based on whether the Tuesday’s highs @ 4284 pushes the SPI down more than 21 points towards 4247...

and possibly as low as 4215-18

SPI Weekly and Daily range.


The SPI sold down on open, but not from the resistance level @ 4284 (Tuesday’s highs), as I hoped for
First target down was 4247, but then this didn’t hold support…

and the rest of the day proceeded to move back down into the daily 50% levels, which aligned with the Weekly level @ 4218 (21 point support)



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S&P E-mini futures 24th October 2011 Daily recap

the expectation is that the market is extending upward, as per Weekly report (1264 to 1274.50)

Random resistance Monday’s highs.

S&P Weekly and Daily cycle.

Choppy around the red filter for a number of hours, but then a push up towards Monday’s highs….(random resistance) , currently 4.25 points

Continued expectation of further gains towards the Weekly highs +




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SPI Futures Australian Stock Market 24th October 2011 recap

Whilst the trend is above 4186 the trend bias is UP.

And today is based on whether the trend continues towards Monday’s high (4262-74), as the Weekly level @ 4218 comes into play.


SPI Weekly and Daily

 Early rise upwards from 4186 resulted in a timeframe closing bar above the Weekly level @ 4218…

We then had a ‘no control’ pattern, resulting in support forming above 4218

And then an extension upward in the next 2 bars towards Monday’s highs (4262-74)



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