Index, Forex, Stocks, Commodities, OIL/GOLD/Silver 19th 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 18th MAY 2012 Daily recap

Trend bias is down whilst below 1315.50 (May Lows)

 however, in early trading there could be a random support pattern of 8.5 to 14 points....

using the red filters as trend guides

S&P 500 Wekely and Daily cycles

Early rise upwards of 14 points before the cash market opened...

and then the market resumed it's trend towards the Daily lows on Friday

Weekly Report out later

SPI Futures Australian Stock Market 18th MAY 2012 Daily recap

It's hard to tell how far the SPI will continue lower until the following months dynamics are in place (June lows), but when we look at the Primary cycles the down trend could continue towards 3785, as the S&P 500 drops back towards 1249.

Even though the market is likely to continue lower, today's first 90 minutes is whether lower support levels will swing upwards and close 'gaps'.

If that's the case, then support is around 4070/75 But it will struggle to rise higher than Friday's lows @ 4118

SPI Weekly and Daily cycles

SPI didn’t reach 4118 in early trading..

Instead it found some choppy support around 4070/75 (21 points)…

But then the trend continued to move lower, as yesterday’s 2nd Quarterly 50% levels failed to hold support, as the S&P 500 failed to hold support @ 1315.50.

Trend bias is down towards 3785 (Weekly Report out tomorrow)

S&P 500 E-mini Futures 17th MAY 2012 Daily recap

Below the Weekly lows @ 1330.75 and the trend bias is down into the MAY lows @ 1315.50

Helped set-up with the patterns in the daily cycle:- @ 1330 SELL

 Random Support :- Thursday’s lows & MAY lows @ 1317/1315

&P 500 Weekly and Daily cycles

Thursday’s short sell down from 1330 into the Daily lows played out, along with a random support pattern off those lows of 8.5 points.

However, the robust support zone in MAY @ 1315.50 didn’t hold...

 and as mentioned in the Weekly report …. The market will break, as often after a NO Control pattern the next 5-days trends in 1 direction.

And that trending direction now looks like it’s making it’s way towards the 2nd Quarterly 50% level @ 1249

SPI Futures Australian Stock Market 17th MAY 2012 Daily Recap

My Support zone is 4143/46...

Look for a (partial exit @ around 4164)

 and then a possible move towards 4207 by today's close.(5-day 50% levels)

SPI Monthly and Daily cycles

Market moved down into Support levels @ 4143/46, found support,

but it didn’t complete the move towards the Daily 50% levels @ 4207, instead stalling at 4173

Today's Support levels were 4143/46 :- MAY lows and 2nd quarterly 50% level
My view is that the SPI will find Support around these levels and begin to Rise up and move back towards 4231-54 over the coming days and then stall until the end of the month.

That's going to be helped by the S&P 500 finding support at its MAY lows @ 1315.50 tonight.

As mentioned a number of weeks ago, my view was that the Australian Stock Market would come back to these levels, and then continue higher

However, everything doesn't always go to plan, and that's because the S&P 500 might be searching for its own 2nd Quarterly 50% level @ 1249, if 1315.50 doesn’t hold.

S&P 500 e-mini Futures 16th MAY 2012

S&P moving down into the MAY lows @ 1315.50


The S&P has continue down towards the MAY lows @ 1315.50, after hititng the daily 50% level.

MAY lows as seen as a robust Support zone...

But keep in mind that a large attraction zone is the Quarterly 50% level, which current resides @ 1249, as mentioned in the Weekly report.

SPI Futures 16th MAY 2012 Daily recap

The SPI is now under 2nd Quarter support @ 4252/54

With a trend bias down into the MAY lows @ 4164 (2nd Quarterly 50% level)

Trend bias is down into 4199/4207 first 90 minutes

SPI Weekly and Daily cycles

Break of monthly support @ 4254 and confirmed with a breakout of Wednesday's lows...

down into the Weekly lows, but then a continuation down  into the MAY lows and 2nd Quarterly 50% level @ 4164

Things now get interesting, depending on the price action in US markets overnight

S&P 500 E-mini Futures 15th MAY 2012 Daily recap

Looks like more weakness in the S&P 500...

Daily 50% level and blue Channel lows:- Resistance

Tuesday's lows Random Support

S&P 500 Weekly and Daily cycles

Early rise upwards...

and then a rejecton pattern (SELL) down into Tuesday's lows @ 1328.75

SPI Futures 15th MAY 2012 Daily recap

The Spiral filter will determine whether the 1st 90 minutes rises up towards the Daily 50% levels @ 4290/92 (random resistance)

As the market continues to remain supported above the monthly levels @ 4252/54

SPI Weekly and Daily cycles

Early support, but a failure to reach the 50% levels @ 4290/92

S&P 500 E-mini Futures 14th MAY 2012 Daily recap

S&P has stalled under its Weekly levels @ 1350 and whilst below the trend bias is down

 random pattern using the levels in the Daily cycle

S&P Weekly and daily cycles

Higher timeframe cycles are driving the trend lower helped by the negative news coming out of Europe.

Weekly lows Random Support

with a trend bias down into the MAY lows

SPI Futures 14th MAY 2012 Daily recap

Trend guide is based on the daily level @ 4288.

 Either the trend guide moves down

Or rises up into the next spiral filter @ 4314…..

SPI Weekly and Daily cycles.

My view was that if it opened below 4288 it would continue down.

However, price rallied on open, as part of last week’s Monthly Support (read Weekly Report)…..

Hitting the next spiral filter @ 4314, but then moving into a consolidating pattern…