SPI Daily 11th January 2011 daily recap

"4675 remains my support zone, and we have a similar pattern as yesterday.

For the market to continue higher it needs to breakout of 4705.

Resistance 4705"




SPI Weekly and Daily range

4675 provided support once again, but Tuesday hasn't convincingly continued above 4705 (breakout). It has stalled at 4705

4703 continues to be an important level during January.

Any further gains will now depend on whether the S&P 500 continues up towards the monthly highs on Tuesday, as part of a 2nd upward day...






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    S&P (e-mini ) 10th January 2010 Recap

    Trend guide 1265.

    My expectation is that this week will begin with a 2-day rise towards the Weekly and Monthly highs.



    S&P Weekly and Daily range.

    Monday didn’t continue upwards, but instead moved into a random pattern of 8.5 points between the daily channels.

    As mentioned in the Weekly report…

    My view is that next week will begin with the trend trying to move upwards over the next 2-days.

    How far Tuesday/Wednesday travels will determine whether price continues towards the January and then February highs.....

    or a failure to remain above the Weekly level @ 1265, puts pressure on the market later next week.

    That basically means, if the market is going to move lower, then from Wednesday onwards is something to keep an eye on.

    Along with rumblings out of Europe regarding Portugal and its 'debt'


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    SPI Daily 10th January 2011 daily recap

    Trend guide 4676

    Resistance 4693

    Above 4695 and trend bias is to move towards the 4716



    SPI Weekly and Daily range

    SPI moved up from 4676 hit resistance @ 4693 and then formed a double bottom (intra-day),and has continued upwards in late trading once price moved above 4693/95


    The SPI started the day trading below a number of higher timeframe levels:- 4703 (January 50% level), and also the Weekly level @ 4693, which is seen as bearish.

    However, the SPI is also opening from a lower Weekly open and support levels @ 4675, as shown in the Weekly report.

    This could see the market move back above 4703 if US markets follow my view of starting this week with an upward bias (first 2-days).



    Posted by

    Index, Forex, Stocks 8th Jan 2011 Weekly

    Weekly Index & Forex Reports out now...

    Australian Index (SPI) Futures

    http://austindex.blogspot.com/


    DOW and S&P Index Futures

    http://usindexweekly.blogspot.com/

    US Dollar INDEX, AUD/USD, EUR/USD

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

    OIL Futures:- OIL BOIL

    http://www.oilboil.blogspot.com/



    Note: Weekly BHP, RIO, TLS, and Banking Report Update



    Posted by

    S&P (e-mini ) 7th January 2010 Recap

    Blue channel highs @ 1271.25, can push the S&P down it’s usual 8.5 points…



    S&P Weekly and daily range

    S&P remains trading within the daily range channels, and this week closes above the Weekly highs @ 1263

    Next week’s trend guide is 1265.25, which will determine whether the S&P continues up towards the January highs @ 1280

    Or moves down into support levels:- Weekly lows @ 1238




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    • Posted by

    SPI Daily 7th January 2011 recap

    The SPI can continue to remain around these support levels for this week until we begin the next. (lower Weekly open)

    Trend guide 4700.

    Resistance 4730

    Below 4700 and trend bias is down towards Friday’s lows @ 4672

    SPI Weekly and Daily range.

    SPI continues to consolidate around these levels, as the market remains above the Weekly lows.

    However, the weekly close below the January 50% level @ 4703 is likely to follow a double weekly low pattern next week. (bearish)




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    • Posted by

    S&P (e-mini ) 6th January 2010 Recap

    Thursday’s highs are seen as resistance

    Looking for the market to move down towards the daily lows over the next 2-days



    S&P Weekly and daily range.

    S&P reverses down from Thursday’s highs 8.5 points, but the channel highs @ 1267 form a support zone, and the market once again moves into a consolidation pattern.

    Looking at the price action it's likely that the market will probably remain above this week’s highs @ 1263….

    And possibly reach the January highs @ 1280 on Friday


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    SPI Daily 6th January 2011 recap

    "the trend guide is yesterday's level @ 4735.

    if below it is moving down into 4713..

    if below 4713 then it’s moving back down into 4703 (Support)

    Resistance 4764"



    SPI Weekly and Daily range

    4703 is seen as major support during this quarter, however the market
    continued down following the daily range dynamics, but it then keeps on being propped up above the January 50% level @ 4703

    4703 continues to be a major support level during the first Quarter of 2011, whilst price remains trading above the weekly lows.

    However, the S&P is now nearing the January highs @ 1280.



    Posted by

    S&P (e-mini) Daily 5th January 201 recap

    Trend guide based on the Weekly highs @ 1263.

    whilst the S&P is below 1263 the trend bias is down....(random support 1152)

    Above @ 1263 and it's trying to move towards the January highs @ 1280



    S&P Weekly and daily range..

    Early selling pressure but it quickly changed, with price trading above 1263 and heading towards the daily highs on Wednesday...

    and then likely to continue up towards the January highs by Thursday

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    • Posted by

    SPI Daily 5th Janauary 2011 recap

    whilst the SPI is below the weekly 50% level @ 4752 the trend bias is down towards the January 50% level @ 4703.

    trend guide 4735

    resistance 4764



    SPI Weekly and daily range

    The SPI was either going to rise up from 4735 and hit resistance @ 4764 and then reverse down..

    or it was going to continue down into the January 50% level @ 4703.

    As per Weekly report, 4703 is a critical support level during this Quarter, and my expectation is that the SPI will continue higher.

    However, as per US market report, I'm looking for the same pattern in the S&P 500...

    if US markets follow the same pattern down into their 3-week lows, then the Australian market will be below critical support levels.

    Like all good support levels, it is often based on the Friday close and the following week, as to whether the market continues upwards from a lower weekly open...

    or Friday closes below and continues lower, as the S&P moves down into their own support levels.


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