Index, Stocks, forex, Commodities, 12th 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

SPI Futures 11th MAY 2012 Daily recap

The next spiral filter will form @ 4304, which aligns with the MAY 50% level.. and should be used as the trend guide...

4273 is an attraction zone

 if there's early selling pressure, then 4273 becomes a random support zone/trend guide on the 2nd 90 minutes.

SPI Weekly and Daily cycles

Early selling down from 4304 down into 4273

and 4273 forms a random support zone on the 2nd 90 mninute timeframe.

Market continues to consolidate above 2nd quarter support @ 4252/4

Weekly report out tomorrow

S&P 500 10th MAY 2012 Daily recap

Today's levels look more like there could be some upward bias.

However, the price will stall at the 5-day 50% level  ( & blue channel highs)  random resistance, and is pushed back down on the following 4 hour pattern..

S&P Weekly and Daily cycles

S&P moved up towards the random resistance levels in the Daily cycle (@ 1360/63)

and during the following 4 hour range price stalled and reversed down...

as the market continues to consolidate around the Weekly lows

SPI Futures 10th MAY 2012 Daily Recap

Above monthly low support @ 4252 & daily filter @ 4259,

the trend bias is up First target 4287 then 4305

SPI Weekly and Daily cycles.

The SPI has found support around the monthly lows in the 2nd quarter @ 4252….

And today’s upward move was helped by the shift in the daily cycles with today’s level @ 4259.

Initial move was to 4287, and then the market stalled…

But then more buying came in, pushing the market higher into the close and towards 4305

S&P 500 9th MAY 2012 Daily Report

today's price action looks like it could rise upwards in early trading.

However, I'm just not sure how much upside there will be, as the levels in the DOW don't provide the same set-up, and the S&P is below 1357

S&P 500 Weekly and Daily cycles

If you followed the patterns over the past number of Quarters (UP trend), Tuesday's price action would have normally continued higher within the S&P Weekly cycles using 1357 has support...instead it closed below

 And Today's continued on with the weakness, as 1357 formed an intra-day resistance zone.

Traders need to be aware, that below the Weekly lows @ 1347, and the market will often go looking for its 3-month lows, currently @ 1315

SPI Futures 9th MAY 2012 Daily recap

Same pattern as yesterday using 4287 in early trading

 with Random Support around Wednesday's lows @ 4263/64.

Overall Downward target 4252/54

SPI Weekly and Daily cycles

Early sell set-up @ 4287 pushed the market down into Wednesday’s lows @ 4262 (random support)

But then further weakness sent the SPI lower, as the market move back into the 2nd Quarterly support zone of 4252/54

As mentioned in the Weekly Report, 4252/54 is a potential support zone during the 2nd Quarter that can mirror the exact same patterns as the past 3-Quarters.

However, if it going to break and continue lower, it's normally going to happen in the month of MAY:- MAY lows @ 4161

S&P 500 8th MAY 2012 Daily Recap

Markets looks like it could move back down.

 if that's the case, then the S&P could find some random support around 1357

S&P Weekly and daily cycles

Early selling pressure within the Daily cycles pushed the S&P back down into 1357 (random Support)

1357 provided some support of 8 points, but the Daily cycles wasn't providing the ideal pattern for more gains..

instead sending the trend back down into the Weekly lows once again.

SPI Futures 8th MAY 2012 Daily recap

Looking at the levels in the day session:- price could move down  towards 4306 (spiral filter and MAY 50% level)....using 4331 as the trend guide

and if below 4306 the trend bias is down into Tuesday's lows (4275)

SPI Weekly and Daily cycles

Sell off on open back towards the MAY 50% level @ 4306...

and a continuation of another 21 point range down, before it would support around the Weekly level @ 4295

42 point range.(inside day)

Trend bias is down into 2nd Quarter Supports @ 4254, but if tomorrow opens above 4306, then Wednesday could end up being a counter-trend day (UP)

S&P 500 Futures 7th MAY 2012 Daily recap

S&P looks like it could rise up from the Weekly lows @ 1347 and back towards 1356…

Whilst the DOW could rise up towards the Monthly 50% level.

Trade on the side of the red filter

S&P 500 Weekly and Daily cycles

Random support on the Weekly lows has seen the market move back towards the 5-day 50% levels and stall.

The most robust pattern would be to see the market rise as high as Friday’s breakouts @ 1380 (Weekly 50% level)…

But the MAY 50% level could form a random resistance zone

SPI Futures 7th MAY 2012 Daily Recap

Support MAY 50% level & spiral filter @ 4307/10

21 point rise upwards, and 90 minute close above 4321, could attract more buying towards the Weekly 50% level @ 4347 (resistance).

SPI Weekly and Daily cycles

 Early push down into Support (MAY 50% level @ 4307), which resulted in a 21 point rise and a 90 minute close above 4321.

However, instead of continuing higher towards 4347, the market moved below 4421 and dropped

As per Weekly report, the trend bias is down into 2nd Quarterly random support zones @ 4352/54