Index, Stocks, Forex, Futures, Commodities:- OIL, GOLD, SILVER 5th MAY 2012 Weekly Reports

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 4th MAY 2012

As noted in Yesterday's report, there was the possibility that US markets could end up down into their 5-day lows...

The question remains whether the trend continues lower (Lower Weekly close) towards the MAY 50% level:- Resistance 1395

S&P Weekly and Daily cycles

S&P didn’t retest the resistance levels @ 1395…

And proceeded down into MAY 50% level, and beyond…

Weekly Report out Later

SPI Futures 4th MAY 2012 Daily Recap

Today:- I'm struggling to see an UP day, other than a 21 points rise and close yesterday's Gap

Trend guide on open is the 5-day 50% level @ 4410.

Below 4410 and first target is 21 points down into 4392, and a possible move down Friday's lows

SPI Weekly and Daily cycles

THE SPI opened higher closing the Gap in early trade, and completing the move down into 4292 as the 1st Target.

Rest of the day consolidated with a downward bias, as the Weekly level @ 4384 formed support

S&PO 500 E-mini futures 2012 Daily recap

S&P is already hitting resistance levels in the Weekly cycles...

 eventually price will try and retest their 5-day lows during this upward move..

therefore there is always the potential for a move down towards the 5-day lows on Thursday, but the daily cycles aren't providing the set-ups for that to happen as yet

S&P Weekly and daily cycles

As we can see price has moved down into Thursday's lows, but the patterns in the daily cycles didn't provide the ideal short-trade around 1405.

It wasn't until it moved below 1393 that it was safe to say that the move down would occur

S&P 500 E-mini Futures 2nd MAY 2012 Daily recap

S&P has already reached the Weekly highs, and with Wednesday is starting below the red filter @ 1405 it might struggle to rise.

 if it's going to continue higher, then after lunch in the US (or 3am AUST EST)

S&P Weekly and Daily cycles

Early weakness on the S&P, as price is coming down from the Weekly highs and also below the red filter @ 1405....

until after lunch when short-term buying came into the market off the daily levels @ 1392

S&P 500 E-mini Futures 1st May 2012 Daily recap

trade on the side of the Weekly levels, at this stage it's UP

S&P Weekly and Daily cycles

A push up into the Weekly highs @ 1410....

and a reversal back down into the close....

No real leads for the remainder of the week, as the market has completed it's pattern from 1395 to 1410...

SPI Futures 1st MAY 2012 Daily recap

Trend bias is to continue towards this week's highs, as long as it's above 4384.

 First day of the month, and it's either going to trend upwards during the first 90 minutes...

or remain flat until 14:30 and rate announcement

SPI Weekly and Daily cycles

first 90 minutes rallied, and then continue to move up towards the higher timeframe levels:- Weekly and Monthly highs.

and then an extra push up towards the Daily highs on Tuesday @ 4444

S&P 500 E-mini Futures 30th April 2012 Daily recap

Everything points to the S&P going up, because of the daily channels and the Weekly levels @ 1395/97 (Monday's highs Resistance)

Therefore I'm not sure how the market will playout if there's weakness today :- maybe a R14 point low Random support

S&P Weekly and Daily cycles

Market started above 1395/97, with the expectation it was moving towards Monday's highs

 However, the confirmed weakness occurred with the closure below 1397 putting pressure on the market  to complete the 14 point range from Friday's highs.

Market move down, but it failed to reach the R14 spiral low @ 1389 (low 1389.75)

SPI Futures Australian Stock Market 30th April 2012 Daily recap

Weekly level @ 4384 random support on the 2nd 90 minute...

 that could see the market rise upwards into the close (21 points)

SPI Weekly and Daily cycles

Early weakness into the Weekly and Daily levels @ 4384..

Resulting in a higher move from 11.20 onwards.