SPI CFD Trading Report - Index Trading

SPI CFD 4285
TradingLevels: Generally speaking, the price above 4300 is bias long, under 4272 SG2 as retested resistance bias short
Elliott Wave: Still considering the pattern at 4300 bullish corrective and should find support back above 4300 and move higher. That said if the last low is taken out 4260 then either a larger correction is unfolding that would take the price back closer to 4000 or the bear market is resuming. So basically its important for the bullish positive picture for the price to stay above the last low, even the SG2 4272
Trading Strategy: Bias long above 4300 and short below 4272 as resistance
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Code: SPI CFD / ASX200 XJO
Date: 8 February
Chart4 Hour Chart
Still expect the market to push through the 4300 resistance.
The current 4272 support is critical if this is broken then expect the price back down towards 4220, if the 4272 hold then the price can move higher.
The Day Ahead Report Comments:
SPI CFD 4286
Technical Analysis
TradingLevels: Keeping it simple, resistance 4300 and support 4272 SG2
Elliott Wave:  The wave structure under 4300 is corrective, I will give it credits to the upside based on the moves to the upside as impulse waves and not corrective waves, but there is a lot of resistance at the 4300, the Shanghai is also struggling as pointed out yesterday. The Dow being up will be helpful today
Day Trading: If you going long then stops need to be under 4272
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Code: SPI CFD
Date: 13 March
SPI CFD 4210
TradingLevels: SG1 holds the price as resistance to 4200 and SG2 holds the price to 4200 as support, a break out from SG1 or SG2 is the direction of the trend.
As you can see the price has been working across 4200, we could assume that its two thirds of the way through its pattern, so another swing down to 4180 and then if the price climbs back about 4200, then we can expect the price to move up further, however if the price gets trapped under the 4200 then expect further selling
Elliott Wave:  In the slightly bigger picture if the price takes out the last low 4130 then you have a bear market and support on 4200 creates the upside, however expect more swings at 4200 first.
Day Trading: support on 4230 creates the long and 4172 as resistance creates the shorts, play in the market now while the price is trying to sort out the 4200 as support or resistance can get you into trouble, wait just a little long and you should be able to see support or resistance at 4200, this is the key to the next main trend, so it may take some time but the next trend will make it worth it