Australian Index Weekly 1st June 2008


SPI Weekly & Daily charts

The SPI last Week drifted lower towards the Monthly 50% levels, whilst the US markets rotated upwards.

Expectation price is coming down in the June 50% levels, and the probably rise upwards the closer it comes to contract expiry.

At this stage the view is the markets are currently supported between the 50% levels and the monthly highs, and if a new Down-trend does occur it would probably be after the expiry. But I’ll come to that later.




SPI 5-day pattern

Last Week’s trading was simply ideal and precise ;- expectation the market was rotating back down towards the Monthly 50% levels, whilst the 5-day pattern was rotating within itself, whilst the intra-day price action was once again 44 points…. :- support/ rotate/ and extend

And next week looks as describe ;- Premium Trader
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SPI Weekly 25th MAY 2008

SPI Weekly and Daily charts

The overall view was for the SPI to move up into 6065 and then reverse back down into June 50% levels. (Sycom high 6020)

I had the view that the SPI would reverse down early in the week, with the expectation that the SPI would open around 5878 on Wednesday (3-day lows), and then continue higher into the end of the Week.

However, the SPI opened below 5878 (3-day lows) on Wednesday and closed below.

This was the first step in a change of trend, and not just a pull-back in an UP trend...

Then the bear pattern played out:- 2-day stall under the 3-day lows and 3rd day rejection pattern down....

Both Support levels were the 5-day lows in both Wednesday and Thursday...

And Friday had a 5-day 50% level rejection pattern and continuation down into the 5-day lows @ 5708 on Monday....

As per the methodology:- support/resistance/ rotate and then extend outward.

Next week:- expectation that the SPI is rotating down into the Monthly 50% levels, but once again the SPI will move in the same 5-day patterns of Support/ rotate and then extend outward.

All Daily analysis and trading set-ups :- Day trading and swing trading are found in the Premium trader...(Index Forex)

http://www.datafeeds.com.au/premiumtrader.html
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Australian Index Weekly 17th MAY 2008

SPI Weekly and Daily charts

Next Week the SPI will complete the Dilernia Principle of a 2-wave monthly pattern towards MAy's highs @ 6065..

Next week's Weekly highs match the MAY highs....

Once These highs are reached my view is the SPI will begin to move into a monthly sideways pattern, which could see price back down into June's 50% level

Note: The Yearly balance point (6200) is where the entire sell off started in 2008, it would not surprise me to see a re-test of the Yearly balance point in 2008, but at this stage that's not my view. My view was from March lows @ 5056 into MAY's highs @ 6065:- 1,000 points

As mentioned in the Premium Trader, I want to be trading Longs in stocks from March lows and up into May's highs. Once those highs are reached I want to move back into CASH positions and don't want to be holding stocks, especially financial stocks in June (short-medium term)

It's too early to tell what's going to happen around highs because there will be 1 more month until the end of the Quarter, and for me to be trading stocks again I would need to see a unwinding of the markets and Price moving back towards their Monthly lows....

Move into cash on Stocks and continue to trade short-term derivatives.

SPI 5-day pattern:-

Last Week's price action was a tight 5-day pattern with an UP bias,which was influence by US markets continuing higher.

Every higher open provided nice 'open' short trades and also Friday's 5-day high.

There were some nice consolidating 'money' patterns last week of 44 point ranges

Note:- First confirming weaker pattern around 6065 will be a cross over of the 5-day 50% level and continuation down....

For all your higher probability set-ups each day and Daily analysis are found in the Premium trader...(Index Forex)

http://www.datafeeds.com.au/premiumtrader.html
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Australian Index Weekly 10th MAY 2008

SPI Weekly and Daily charts

Last Weekly report I was looking for a reversal back down from the Weekly highs, and then a continuation UP towards 5870+

Next Week 5870+ will be reached and there is a lot of resistance around those highs over the next 5-days.

Therefore I'm looking for a tight 5-day sideways pattern, and it won't surprise me to see a lower Weekly close next week.

A move towards May's highs 6055 is still a possibility, but that's going to be dependant on US markets, as they move towards their MAY highs, which might be 2 weeks away.


We can see March lows and rotation towards the April 50% level. The April lows and rotation UP towards 5870.

And now MAY lows and looks to be pushing UP towards 6055.......


All SPI Daily reports using the 5-day patterns and high probability set-ups can be found at the Trader Premium....


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Australian Index Weekly 3rd MAY 2008

SPI Weekly and Daily charts


Expectation that Aussie market would continue higher in MAY, after consolidating in April.

Last week's analysis was for price to move down into MAY 50% levels and then continue higher, this was helped by US markets.

The expected move on the SPI is to 5870+....

A move towards MAY's highs 6055 is still a possibility, but that's going to be dependant on US markets...

http://www.usindexweekly.blogspot.com/


In the short-term:- Weekly highs next week expected resistance level for a couple of day's and looking for a 2-day stall reversal pattern down

However, the Weekly highs can breakout on the UP side because of the higher timeframe push towards into 5870+....

All SPI Daily reports using the 5-day patterns and high probability set-ups can be found at the Trader Premium....

http://www.datafeeds.com.au/premiumtrader.html
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