Trading the SPI

[Bronte]

Any other SPI traders have a prediction for Mondays Open?
Monday Opens are the hardest to trade...as previously posted.

 

[Bronte]

Traders have all weekend to "do the numbers"
compared with a few hour on the morning before Open.
Summer time in Perth the market opens at 06.50AM
Earlier in this thread we called a few Monday mornings &
on many other forums we used to do this regularly
99.99% (That is 1 in 10 000)

 

[iSPI]

'Trading the SPI'
Sycom closed at 4966
If we open around here on Monday
Then we will be looking to Buy the SPI

Well we have low 4960 12/9/2006 and 4958 22/9/2006
* looks * like a buy however
it's not a buy for me until it gets above the high on 21st
and that seems to be a little late for me so no trade
on Monday for me.

 

[Bronte]

Thanks iSPI for your input.
22/09/06 Low was 4950
As per the SPI chart attached
(Used up my 1 in 10,000)
Timeframe day also shown.

 

[iSPI]

22/09/06 Low was 4950
.

Oops you are quite correct,
I simply whipped up a chart using the spot data as provided by my supplier
and it probably used Sept contract for 22nd and not the December contract.

Apologies to all for the confusion

 

[GreatPig]

Looking suspiciously like a head and shoulders pattern on the end there.

Same with the XJO/XAO.

GP

 

[Sean K]

Looking suspiciously like a head and shoulders pattern on the end there.

Same with the XJO/XAO.

GP

I agree, and if it drops the distance from the neckline to the top of the head, then 4900 is the target.

 

[Bronte]

Yes, we would like to see a Low
of around 4900 on September 25th

 

[Bronte]

Oops you are quite correct,
I simply whipped up a chart using the spot data as provided by my supplier
and it probably used Sept contract for 22nd and not the December contract.
Apologies to all for the confusion

Not necessary iSPI
The change over of contracts can be confusing.

 

[Bronte]

We switch with the volume

One of the reasons we switch with the volume is to eliminate confusion

 

[Bronte]

One of the reasons we switch with the volume is to eliminate confusion

The charts we work off are our large hand drawn ones.

 

[DT_Futures]

Budfox,

That’s from the movie Wall Street?

I used to talk nearly everyday for about 6 months on the phone and skype to a guy who loved that movie. I’m just wondering if you’re the same guy because you seem to be a little bit sensitive about my comments regarding Index select.

The interesting part is I had a falling out with the same person about 4 weeks ago and stopped talking to him completely. The other interesting part is looking at Index Selects results for September on SPI. Just a coincidence.

Just to let others know I’m the biggest fraud there is, and make nothing from my trading over the years, my methodology sux, and my systems are useless.

However, it seems that there are now hundreds around the globe directly and many more indirectly now using higher timeframe, multi-timeframe dynamic pivots, ranges bars and developed systems based on what I have told them.

I don’t think I have to apology for anything, because if you are that same person, you should be thanking me. If you are not that person and subscribing to Index Select then indirectly you a profiting from my work.

Just to let you know that there are other SMS services that have now popped up around the globe, the difference is, they at least acknowledge the model and they all know where they came from. I'm happy for them.


This is the reason why I stopped visiting forums and posting in forums. I’ll take my thoughts and wander off into the sunset. Adios!


Frank

just visiting your website again, and see you have changed from advertising indexselect on your website to trend alert.
which looks to be running by your partner out of the netherlands, of course they acknlowdge it, it is you and your partner running it...

good luck to it all...

 

[GreatPig]

if it drops the distance from the neckline to the top of the head, then 4900 is the target.

Not sure how you get that figure. I'd put it at around 4800.

Cheers,
GP

 

[Sean K]

Not sure how you get that figure. I'd put it at around 4800.

Cheers,
GP

You're right GP. I only dropped a measley 100 points off my calculations...ha.

 

[Bronte]

'Trading the SPI'
Sycom closed at 4966
If we open around here on Monday
Then we will be looking to Buy the SPI

We will see what happens
Not keen on weekends

 

[Bronte]

Gann Support at 4966

We have a very nice Gann Support/Resistance area here

 

[wayneL]

Please Note:

All posts not directly ralated to trading the SPI in this thread will be deleted. I have created a new thread "The Spi Pit", for all other SPI related comment.

That way, those strictly interested in the trading will not have to wade through all the rest of the cr@p.

Those interested in all the other cr@p, The SPI Pit is the place for you. (Clever pun if I do say so myself )

 

[BudFox]

Hi Guys, here is today's report from Index Select. Thought it may be of some help.

SPI 200 Australia - 25/09/06

SYNOPSIS
As stated early last week, a breach of 5014 on a weekly close is very bearish for the SPI . We have closed at 4966 last week and this week we are expecting some kind of attempt higher before a major correction down to 4933 and then 4882. The Short rally on Monday and Tuesday may not occur and it could be straight down from here, but we really want to get short at higher prices and ride this market lower. Having a look at the chart, a classic major topping formation is in place. It's saying GET SHORT! My optimum area for a short would be 5039, however we will probably not get this high, the next major resistance at 5022. Either way we see the market as a low risk short. Judging by Fridays day session strength on the close, Monday may rally slightly - we have initial support at 4950-53 and a sell area at 5035 to 39.. The 3 week lows are at 4933 and traders will be going long around here hard. It all depends on the price action and patterns this week. For today , buy intial support at 5050 -53 (2 day low and pivot low). Don't be surprised if the market collapses sometime this week, the USA is still very overbought and needs a major rest. The SPI will follow lower.

MARKET ANALYSIS.

Trend Dynamics
Key Price Levels
Daily Sell Cycle: Below 3 day Highs (5055)

Major levels higher: 5014 – 5022,
5035 to 38 is a major shorting area.
5050 ultimate sell area. (3 day highs area)
Weekly Buy Cycle – 3 week lows, Supported at 4933

Major Levels Lower: 4950 , 4929 , 4912 4880

TREND COMMENTS
Weekly - A weekly close below 5014 will signal continued weakness
Yearly - Pivot Extremes at 4900 now support until December 31st 2006 , 3 month low 4870 support.

TRADING IDEAS:

INTRADAY LEVELS

SUPPORT LOWER - 4951 * RESISTANCE HIGHER - 5014 - 22

Monday is a great day to buy lower prices and sell higher prices. I expect rotation.

SWING TRADING

Sell SPI Short at limit 5035 to 39 if done, buy SPI at 5065 on stop – Target 4951

 

[wayneL]

It's saying GET SHORT!

Gimmmeeeee Megadeath!!!!! :batman:

Bud,

For SPI tankage next week, you are saying that metals/energy will slip quietly over the precipice into the abyss... either that or major bloodshed in the banks.

........or both!

Can you see that happening? I can't see that just yet, I can see a down week in the US indicies though with the SPI following slavishly in it's slipstream.

Be interesting to see how this plays out. Short would be a good bet IMO too.

 

[swingstar]

For SPI tankage next week, you are saying that metals/energy will slip quietly over the precipice into the abyss... either that or major bloodshed in the banks.

I've been bearish on the banks since before last week; am long puts in two. MBL is the next to go IMO. I think the selloff on some of the banks has been overdone, so might see a bit of a rally, but I think it'll be a down week overall for them.

Same with the XJO, and especially if the Dow gets done, which I'm anticipating.