Index, Forex, Commodities, Futures, Stocks 24th December 2011 Weekly Report

I want to wish everyone a Merry Christmas and enjoy your 'Holidays'

Thank you for your support.

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 23rd December 2011 Daily recap

Weekly highs are the targets, and random resistance around 1265-68.....

Trend guide the red filters

S&P Weekly and Daily cycles

Choppy for most of the day, until a late push upwards that failed to reach the targets of the Daily and Weekly highs.

Weekly Report out later

SPI Futures 23rd December 2011 Daily recap

Resistance 4134

Support 4106

SPI Weekly and daily Cycles

December 50% level  @ 4134 has acted as resistance once again....

 pushing the SPI down into the trailing channels, along with the spiral filter support level @ 4106.

Weekly reports out tomorrow

S&P 500 E-mini futures 22dn December 2011 Daily recap

my view is that the trend will continue to move up towards Thursday's highs

Weekly 50% level and red filter support

S&P Weekly and Daily cycles.

This week's price action of rising up from the December 50% level, along with Wednesday's price action help set-up further gains on Thursday

Trend bias is to continue towards the Weekly highs by Friday…

And the Quarterly 50% level @ 1274.50 by next week.

SPI Futures Australian Stock Market 22nd December 2011 recap

Resistance 4134/47

Trend guide 4097

Support 4067/72

SPI Weekly and Daily cycles.

SPI remains in a very tight trading range below 4097, but above the support levels @ 4067/72

Lack of volatility on the market coming into the end of the year is extremely boring.

S&P 500 E-mini 21st December 2011 Daily recap

Red filter is the trend guide on whether price comes down into the 5-day 50% levels...(Support @ 1223)

This is based on retesting yesterday's breakout of the Tuesday’s highs.

random resistance Wednesday's highs

S&P Weekly and Daily cycle

S&P moved up as part of the break and extend pattern from Tuesday’s highs into Wednesday’s highs @ 1244.

And then proceeded to reverse back down, as part of retesting yesterday’s breakout and 5-day 50% level (support) @ 1223

Current price action suggests more upside this week, with a move towards the Weekly highs

SPI Futures 21st December 2011 Daily recap

Support 4089-94

Resistance 4129/34

SPI Weekly & Daily cycles

Market remained within a 21 point range around resistance levels today @ 4129.

The market continues to remain below the December 50% level @ 4134.

Any further gains will be help by US markets remaining above their Weekly 50% levels

S&P 500 E-mini 20th December 2011 Daily recap

Because of the December 50% level support, I favour a move upwards. 5-day 50% level is the trend guide on whether price continues up into Tuesday's highs

5-day range is also tightening up, therefore there is a possibility of a breakout over the next 2-days

S&P Weekly and Daily range…..

As noted in Monday’s report:- S&P support @ 1198/1200.
which could result in a swing back towards the Weekly 50% levels (2-day rise)

Today’s trading aligned with the higher timeframe support patterns, along with the levels in the daily range @ 1203 and then the 50% level @ 1209

The tightening of the 5-day range has resulted in a breakout and a continuation back towards the Weekly 50% level (1231.50 2-day rise).

The rest of this week will be define by the Weekly 50% level, and whether the trend continue to move up towards the Weekly highs by Friday.

Short-term, there is a break and extend pattern in the daily cycle (Tuesday high breakout @ 1224.50, therefore there’s an expectation of higher highs on Wednesday.

SPI Daily 20th December 2011 Daily recap

Resistance 4067/72

trend bias is down towards Tuesday's lows

SPI Weekly and Daily

Market didn't reach resistance levels...

and didn't complete the 42 point range down into 4015/18

S&P 500 e-mini 19th December 2011 Daily recap

Trend guide red filters & blue channels @ (4pm)

5-day 50% level random resistance @ 1215.25

S&P Weekly and Daily range.

Whilst the market was above the December 50% level, the early trend bias was up using daily channels @ 1203 (4pm Sydney) as support :- 8.5 to 14 points.

This saw price move up into the daily 50% level during globex hours....

 but once the cash market opened and price was back below 1215.25, sellers hit the market pushing price towards the lows….

Critical support levels remain the Weekly level @ 1197.75 and the December 50% level @ 1200

SPI FUTURES 19th December 2011 daily recap

Based on the Weekly close below the December 50% level @ 4134, the trend bias is down towards Monday’s lows (4072/78)

Below 4072 and trend bias is down into 4037.

SPI Weekly and Daily cycles.

As mentioned in the daily report….

The reason why I favour a down move is because of Thursday's 5-day breakout of the 5-day lows @ 4147, Friday's retest of the breakout area and failure, and now the expectation that's it going to extend down into Monday's lows:- break and extend pattern

The bias was down…..and based on Monday’s breakout of the daily lows and Weekly level @ 4072/78…

Tuesday is likely to continue down into the Weekly lows @ 4000