DOW S&P trading 3rd June 2008 Recap

Morning Report.....

As Per Weekly Report:- higher Weekly open and expectation US markets will reversed down towards the June 50% level from the Weekly 50% level, and then verified with a break of support on Monday...

For Tuesday:- use support levels


Normally a break of support in the one day will move down into support the next day and then move higher, but not expecting Tuesday to rise higher than the blue lines.

don't trade longs below support on Tuesday :- bearish pattern break on Tuesday of the red channel lows in both markets.



S&P Daily and 5-day pattern

As Per Daily Premium report:- early support on Tuesday moving up into Resistance (blue channel) and then selling down breaking support.....





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    • Posted by

    SPI Trading 3rd June 2008 Recap

    Morning Report:-


    5621 support and look for a move towards the Risk level 5659....

    Then it becomes a random expectation for the rest of today, as it will close the R44 gap from yesterday, and then could reverse back down towards the 5-day lows.

    Don't trade longs below 5621 on open and it's open to risk...

    Note: use the red and blue channel lows from yesterday's recap as a support level for today:- high risk to be trading longs below those levels...


    As below 5628 price is pushing down towards 5588



    SPI Recap:-

    SPI opens lower and moves up towards the 5-day 50% level closing the gap, then the rest of the day followed the move lower towards 5588 and support on Tuesday...


    Posted by

    SPI Trading 2nd June 2008 Recap

    Morning Report....

    SPI is in a 3-day Sell cycle, and with the expectation that price is pushing down towards June 50% level before any UP move is going to play out.

    The 44 point range needs to complete from Friday's range before Monday begins, therefore the critical level is going to be 5720....

    Note: A higher spiral open and a higher Channel normally favours selling the open down"



    SPI 15:30 Recap

    SPI sold down from open and followed the 5-day pattern lower towards June's 50% level.

    Once channel lows were reached market went it a consolidating reversal pattern...

    Posted by

    Weekly Reports 1st June 2008

    Index, Stocks, Forex Reports out now...


    http://austindex.blogspot.com/

    http://usindexweekly.blogspot.com/

    EUR/USD GBP/USD AUD/USD

    http://www.forexspread.blogspot.com/




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    • Posted by

    SPI Trading 30th MAY 2008 Recap

    "The SPI is going to open around the R44 Spiral point @ 5707..... if the SPI has stalled at the 5-day 50% level and is opening around 5707, then the expectation is the R44 needs to move down and complete the range before the market decides which direction it will go....

    The Risk level from yesterday @ 5713-07 is the bias to trade the open, with the expectation price is moving down. The rest of the day has a random outcome...."    Morning Report


    SPI 15:50 Recap

    SPI opens lower and pushes up into 5707-13 and then slowly moves down into an R44 low....

    Another rotating and consolidating trading day of 44 points to close out the Month of May....

    Weekly Report out tomorrow.....

    Posted by

    DOW S&P 29th MAY Recap

    Morning Report...."US markets are rotating upwards from a lower Weekly open and the MAY 50% level (DOW)...

    The rotation back towards the 3-day highs has completed, with any break of the 3-day highs on Thursday and the expected push is towards the Weekly 50% level.

    Both US markets will be trading around their 5-day highs, which I would normally look for a rotation back down into Support....

    If US markets are going to go higher, then Support would hold and then close higher, with a similar pattern as Wednesday:- test/support/ and Rise.

    Two Plays:- 5-day highs reject price down into Support early on Thursday, and then rises higher towards the Weekly 50% level....

    If the 5-day highs breakout and continue towards the Weekly 50% level, then I would look for a rotation back down on Friday..."



    DOW daily and 5-day pattern

    US markets opened higher on Thursday pushing down towards support and then reversing back UP towards the Weekly 50% level and stalling....

    Friday's Report later.....

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    • Posted by

    SPI Trading 29th MAY 2008 Recap


    Morning Report...

    " With this week's price action of an extension down into the 5-day lows and reversal upwards, the normal price action would be towards the 5-day 50%, or back towards this week's highs (3-day)

    However, with today's higher Spiral point the Spiral channel the expectation is a push down and to close the 'gap' from the previous 44 high...

    After this price action the rest of the day has a random outcome...



    SPI 15:30

    SPI opens higher pushes down from open and closes the gap from yesterday, and then swings up towards the 5-day 50% @ 5734...



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    • Posted by

    DOW S&P 28th MAY 2008 Recap

    Morning Report....US markets have consolidated around the Weekly lows : - either US markets are going to swing back into the weekly 50% level, or continue down after a 2-day stall pattern....

    Last Week there was a break of the Weekly low, which ideally I would like to see price test the breakout before it continues down....

    Wednesday's trading is going to be defined by the support levels and the 5-day 50% levels...

    Yesterday moved back into the 5-day 50% levels....

    A bounce off support on Wednesday will see a move towards the Weekly 50% level and 3-day highs"...


    S&P Daily and 5-day charts

    Both the DOW and S&P followed similar price action:- pushing down into 'support' and then continuing back towards the Weekly 50% level and 3-day highs...




    Posted by

    SPI Trading 28th Trading Recap

    SPI Daily and 5-day pattern... 15:30

    SPI following the pattern of rotation down into the Weekly lows, and a rotation back towards the MAY 50% level....

    Trading day was pretty well mapped out once the R44 range to 5712 completed from Monday, along with rejection patterns on the way down into the 5-day lows..

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    • Posted by

    SPI Trading 26th MAY 2008 Recap

    Morning Report...."Expectation that the SPI is rotating back into the MAY 50% level.

    Last Week we had a 2-day support and a 3rd day rejection down into the 5-day lows once again.

    Even though the expectation is that the SPI is moving lower, when Price is around the 5-day lows the expectation is that Price will find support and rotate back upwards....

    Ideally an UP move into the Weekly 50% level and rejection down would be an ideal pattern.

    B. Opens around 5708 moves up 44 points:- after that move it becomes a random pattern :- either continues back towards the Weekly 50% level, or reverses down from an R44 Spiral top.....



    SPI 15:55

    SPI opens lower swings up 44 points and moves into a 44 point rotation pattern, which provided some ideal swing trades today, and into the 4th 'money pattern'

    Nice day's trading....

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