SPI Trading 11th June 2008 Recap

"Normally a break of the 5-day low will continue down in the next day, however this normally occurs from the 5-day lows in the previous day:- that basically means that a higher probability continuation down should continue down from 5485 the next day.

However, the SPI is opening much lower and not near the 5-day lows....

Therefore i'm treating today as an UP day, and for price to move back towards yesterday's break...

The pattern i'm looking for is a move down into the Spiral lows around 5399, and then use the Spiral filter on Wednesday to trade upwards..."

Morning Report

SPI Daily and 5-day pattern

SPI opened higher than expected and pushed down into a low of 5403 then reversing back up towards yesterday's break of the 5-day low @ 5485, as part of the expected UP day on Wednesday.

Spiral filter was 5406


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    DOW S&P 10th June 2008 Recap

    "Last Week broke the Weekly lows, and both markets are trading below June's 50% level, which is a bearish pattern.

    However, I also mentioned in the Weekly report that I expect a push lower on Monday but then look for some sign of a counter-trend move upward as it nears the expiry date next week.

    Yesterday found support but was trading below the blue channel capping the market..

    On Tuesday there is a switch from above to below on the blue channels, which favours a continution up on Tuesday"

    Morning Report...

    DOW Daily and 5-day pattern

    Another consolidating trading day below June's 50% level, rising up from support and stalling at the 5-day 50% level

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    SPI Trading 10th June 2008 RECAP

    "Opens below the 5-day lows, then expectation price will remain outside that level and rotate around in 44 point waves for most of the day:- resistance 5485

    Going long below 5485 around a 44 spiral low is a trade but position size should be lowered.

    If opens above 5-day lows @ 5485, then expectation price is pushing back towards the previous 5-day lows @ 5528-31 (resistance)

    Note: Keep in mind that price is opening outside the Spiral channel which often pushes prices down 21-23 points before any buying support comes in."

    Morning Report





    SPI 15:45 RECAP

    Market did open above 5485 and pushed down 23 points, but failed to rise up from the 5-day support.

    The rest of the day consolidated below the 5-day lows but remained in a tight consolidating pattern around the 44 Spiral low:-

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    FOREX Reports 10th June 2008

    AUD/USD, EUR/USD, GBP/USD Updates

    http://forexspread.blogspot.com




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    S&P (e-mini) 9th June 2008 Recap

    "We have now completed a 10 day consolidating pattern, the following week future contracts in June come into expiry,which often pushes prices up towards the expiry date.

    I would look for a push down on Monday towards the 5-day lows and then look for a rotation back upwards later in the week and into next week's expiry. June expiry."

    Weekly Report

    S&P Daily and 5-day pattern... (RECAP)

    Expectation that the S&P would push down on Monday into the 5-day lows and find support.....




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    • Posted by

    SPI Trading 6th June 2008 Recap

    Morning Report....

    "Simply define the market with today's higher channel @ 5622.

    a normal pattern would be to move down into an R44 low, or view support around the blue channel @ 5579"
    SPI Recap:-

    SPI opened higher and rotated back down into 5579 to close out the day on it's lows on Friday....
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    DOW S&P 7th June 2008

    "US markets reversed upwards into the Weekly 50% level, and my view on Friday is that price will probably be capped around the 5-day highs....

    Friday:- I would look for prices to come back down and re-test the 5-day 50% levels     "

    Morning Report....


    S&P Daily and 5-day pattern.

    US markets reversed down on Friday from the 5-day highs, and moved much further than expected on Friday, but not unexpected because of the view of weaker prices in June. (Change of Weekly cycle)



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    • Posted by

    SPI Trading 5th June 2008 Recap

    Morning Report...


    "Yesterday I also mentioned that in a downward weekly pattern there is a possibility of 1 UP day. that 1 UP day occurred yesterday.

    A bearish pattern is a continuation down the next day.....

    Market is back around support and trading around the Risk filter:- therefore the rest of today is defined by the Risk filter and support levels as shown...

    Basically:- below 5583 and the bias is the continue down (trading below monthly 50% level and 5-day lows of the previous day."

    SPI Recap...

    Thursday continued the pattern of a weekly trend down with price tradinh below 5583 and following the 5-day pattern into the 5-day lows @ 5528, and once again finding support....



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    • Posted by

    S&P DOW Trading 4th June Recap



    DOW and S&P Daily charts

    Morning Report "Two down days in the early part of the trading week from a higher Weekly open, but at this stage it's too early to tell on whether there is going to be any higher moves on Wednesday using the Weekly lows as support.

    I would use the 5-day lows as support, with the expectation that prices will be capped below the yellow channels on Wednesday."

    S&P Daily and 5-day pattern...

    S&P moved up from the 5-day lows and back into 'Resistance' on Wednesday, reversing back down into the 5-day lows, which was part of the morning report....

    Posted by

    SPI Trading 4th June 2008 Recap

    Morning Report

    "Yesterday moved higher into the 5-day 50% level and then reversed down into 5588...

    Today the exact same level should be used as support along with the previous 5-day lows @ 5579.

    The market has had two down days in row at the start of the week, and there is always an expectation that there will be 1 day which will be a counter-trend day (UP) in a Weekly down move"....



    SPI Recap 5th June...

    SPI Rallied off the Spiral filter 5587 and back up into the R44 high @ 5635 and reversed down into the 5-day lows @ 5579, which ended up supported for the trading day....

    Yesterday had the 1day up trend,which is currently being supported around the June 50% levels



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