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Trading The SPI - NON-Gann Techniques

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Euler said:
Prof, was around 15.30 (give or take 15min). Iress was giving me confliction BID/ASK. After it settled I wondered whether if was Iress at fault. On a number of occasions all the ASK's diappeared off the screen and a healthy looking column of BID's held. So am not sure if it's SFE or Iress.

Yes, the highs held well, as did the 20's. Overall a very good day.
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Price action looked pretty normal around that time, so it probably wasn't an exchange prob.
 
professor_frink said:
The 58-63 area went pretty well today- high of 64, and the rally out of the lunchtime lows ended @ 59 :)
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The 58 - 63 area held very well today prof :)
Todays SPI 3 min chart:
 

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morning all,
was looking to get set @ 78 this morning, but was a bit slow in pulling the trigger so missed out. Not expecting the area around 58-63 to be as strong as yesterday, but you never know-will have to wait and see how the market reacts when(if) it gets there.
 
professor_frink said:
morning all,
was looking to get set @ 78 this morning, but was a bit slow in pulling the trigger so missed out. Not expecting the area around 58-63 to be as strong as yesterday, but you never know-will have to wait and see how the market reacts when(if) it gets there.
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Hi Prof, am looking for a reaction @ low 60's (high range both daily and 3'er is 61,62).
 
Euler said:
Hi Prof, am looking for a reaction @ low 60's (high range both daily and 3'er is 61,62).
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testing yesterday's high now @ 64, so we'll prob get that reaction pretty soon....or lots of chop, but lets not think about that :)
 
it's struggling to break down below yesterday's high-will be looking for it to hold above R1 before thinking bout a long
 
professor_frink said:
How'd you go Euler? It get low enough to get you interested?
Looks like we will test the weekly pivot @ 79 again
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Missed this mornings pullback and was looking for a stronger reaction to 60's, so not in at all. Plus, the missus decided "we" had to do some shopping, so missed the last hour. A day of "missus" today!!
In irons as I write, I have a level of resistance @ 75 which it is skirting at the moment, but doesn't have the enthusiasm to go anywhere right now.
Let's see when they return from lunch.
 
Euler said:
Missed this mornings pullback and was looking for a stronger reaction to 60's, so not in at all. Plus, the missus decided "we" had to do some shopping, so missed the last hour. A day of "missus" today!!
In irons as I write, I have a level of resistance @ 75 which it is skirting at the moment, but doesn't have the enthusiam to go anywhere right now.
Let's see when they return from lunch.
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not to worry, you didn't miss much. Don't you love it how women 'volunteer' us for these kinds of things :D
Think I'm Gunna close both this and my nik trade and start my weekend early :dance:
 
professor_frink said:
not to worry, you didn't miss much. Don't you love it how women 'volunteer' us for these kinds of things :D
Think I'm Gunna close both this and my nik trade and start my weekend early :dance:
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lol ... but what would you do without them ... lol ...

enjoy the long weekend ... i think a few will join with you in the early start!!

:drink: :popcorn: :aus:
 
XJO an observation ... a very neat rounding off the trading week's action ... hit 5802.1 (5800 for what it's worth) and has rejected it convincingly (today). Does this mean the top is in? Does this look like the turn-around everyone has been talking about since the XJO broke and re-tested 5000? Does this indicate the end of the bull run? For mine, the sell on the daily is not in (yet). It still has a way to go before that signal is in place. But if it sets in place, it will move very quickly. Watch this space over next trading days!!

PS I don't mind which way it heads from here and am not arguing for a move either way. Just my observations.

--------------------------
Do your research and listen to your inner voice.
 
Thank you for bringing this to our attention Margaret
Very interesting link :)
 
Your're welcome, Bronte!

There certainly isn't much liquidity at this stage in the new contracts, however I believe that Aussie option market makers use SPI futures to hedge their XJO option positions, so it will be interesting to see if liquidity picks up due to any options hedging.
 
Cheers for that margaret :)

Interesting thoughts Euler. If the sell on the daily hadn't arrived for you Thursday, it may well show up tomorrow :xyxthumbs
 
Morning all, was looking for action off the 21-23 area this morning, unfortunately we opened higher and never got there. Gap is now covered, spread is almost back to where it's been sitting the last couple of weeks, and I have no idea where we are heading from here, but overall have a bias to the shortside(which could be quite dangerous if we start rallying :) )
 
hi Prof - looks like a failed retest now so ideally we'll see it fade away now - well am short so thats the plan anyway! :)
 
Edwood said:
hi Prof - looks like a failed retest now so ideally we'll see it fade away now - well am short so thats the plan anyway! :)
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Sounds good Ed. Been a fairly quiet morning for me, had 2 long signals that were both ignored(1 would have been a winner, but would have been down 2 pts if both were taken), have had a b/e short trade, and am back in for round 2. Will like to see 21-23 today
 
Edwood said:
that would be fine with me! I have to go out for a bit so try to talk it down pls...:D
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shall do Ed :D

Started my 'training' on the Hang Seng last week. Trading 1 lot on the mini....@ 1.60 odd per point hardly gunna break the bank if it smacks me around(which it can do quite easily) but is a good learning experience anyway.

Think it's gunna take me a little while to get used to this thing, will be taking my time on the mini before upgrading myself to the full size contract- this thing is an absolute monster :eek:
 

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