CFD Trading Robo System Results

A Leading Technical Analysis Video - CFD Trading Strategy Report 7.30AM
In-depth Analysis of DJI SP500 FSTE SPI ASX200 Gold Copper Oil Forex AUDUSD EURUSD Dollar & CFD Trades FREE TRIAL

EarlyBird Technical Analysis CFD Trading Report  – 24 October

Dow Jones – 11, 800 +2.31%
Base Metals Positive
US Gold CFD: 1640
Oil WTI CFD: 87.60
Copper CFD: 325
US Dollar CFD: 76.50
EURUSD 1.39
AUDUSD 1.0376
Dow Jones CFD 11,816
S&P500 CFD: 1,239
FTSE 100 CFD: 5493
SPI CFD 4200

US News
NEW YORK -(Dow Jones)- U.S. stocks rose Friday following another batch of corporate earnings while investors hoped this weekend's European Union summit will lead to a plan that will combat the sovereign-debt crisis.

The Dow Jones Industrial Average gained 226 points, or 2%, to 11768, near the session's highs during the final trading hour of the day. The gains put the Dow on pace for its fourth-straight weekly gain, marking its longest winning streak since January. The measure is up more than 1% this year.

McDonald's helped push the Dow higher, rising 3.2%. The fast-food company's third-quarter earnings rose as sales growth made up for the food-cost inflation it faces world-wide.

Travelers jumped 4% and American Express gained 3.9%, leading the Dow's gains. General Electric led on the downside, falling 2.5% after reporting quarterly results. GE Chief Executive Jeff Immelt called the company's third-quarter industrial-profit margin "a low for the year" and vowed that the figure will rise in the fourth quarter and next year.

The Standard & Poor's 500-stock index advanced 20 points, or 1.6%, to 1235, with consumer-discretionary, materials and financial stocks in the lead. Each of the index's 10 sectors rose. The index is on pace for its third-consecutive week of gains, its longest weekly winning streak since Feb. 18.

The technology-oriented Nasdaq Composite advanced 32 points, or 1.2%, to 2630.

Investors remain fixated on how European leaders will combat the debt crisis that has spread to many regions across the euro zone. Although an agreement on a plan to expand the euro zone's bailout fund won't be reached by Sunday as was previously expected, German Chancellor Angela Merkel and French President Nicolas Sarkozy issued a joint statement promising to produce a comprehensive plan by Wednesday.

Also, an agreement on recapitalizing Europe's banks should be reached by EU finance ministers Saturday, according to a senior EU diplomat. But an agreement has yet to be reached on leveraging the euro zone's bailout mechanism or on a write-down on Greece's massive debt, the diplomat said.

"This rally could be some short [sellers] taking a little bit off the table," said Michael Shea, managing partner at Direct Access Partners. "The thinking is 'What if these European leaders actually pull this off?'"

Euro-zone finance ministers also approved the latest disbursement of an EUR8 billion ($11 billion) loan payment for Greece.

CFD Commodities

US Gold CFD: 1640
Covering the short Gold positions around 1600 was the right move as we could see base metals , copper about to bounce off the MajorLevel 300 (TL3)
Now we wait for the retest at the MediumLevel 1650 as support or resistance, we should see the price further up past 1650 into SG2 1665 I 1672 I 1680 which is the supply zone, so expect a small reaction at 1650, then a push higher to 1665 – 1672 then a test of the MediumLevel 1650 if support is found then it can push higher and long would be picked up at that point.  Make should you allow the pattern at this level to play out otherwise you’re taking on extra risk that you simply don’t need too, if you keen to play long now then place the stop under the 1.618 but do not over trade and lock in part profits at 1650, 1660 (618% Retracement) and 1665 the main resistance price point is 1672

Oil WTI CFD: 87.60
Oil didn’t did move with stock or materials so this is a sign of weakness, even though stocks can move higher, while the US earnings are still underway next week Oil should find more resistance at this 88 and 90.  The Elliott count is back down to 85… and this can come from Monday as the 60% hair cut on Bonds that bond holders will take, this will also see the Dow at 11,800 (mTL8 Profit taking number) watch the Dow Futures when they open.

Base Metals

US Spot Prices (in l/b)
US Copper:           Last: 3.22+
US Nickel:             Last: 8.44+
US Zinc:                Last: 0.81+
US Aluminium       Last: 0.94+

Copper CFD: 325
The bounce of the Major TradingLevel TL3 300 as expected, the current high 326 is the 61.8% retracement level, however the wave count suggest an unfolding to 328 /330 the 330 is the top of group 1 so you should know what this means and how the price will unfold across this level. The other technical point is the Elliott wave count up off the 300, start counting five waves up on the intraday chart. We will point out the trade set up when it gets closer during the week.
You can also bring in the AUD and ASX into the analysis mix as they will have the same wave count up, we can observe for any leading moves, lets first get past Monday the European summit and the observe what happens in the bonds markets and how that affects the Indices

Forex

US Dollar CFD: 76.50
The Dollar has made news lows in line with the previous corrective pattern, the target was 7650 but now that we can work with and see the unfolding intraday structure we have to consider a lower price point and the Euro moving above the 139 with the target at 140 has been the standard, but of course the European Summit meeting is on Sunday and it boils down to will the market feel content for the short term with the amount of money they put into the leaky bucket. We will look at the DJ Futures market when they open to get the lead.

EURUSD 1.39
TradingLevels: If you are still long from the 13750 retest, then stay long, if you’re thinking of being long then you require support on 139 first, however this is going to be tricky for two reasons first the European summit on Sunday can spike the price and secondly the Bonds market is taking a 60% cut, this is likely to place selling pressure but the Europe Summit is likely to create the upside, Look at the DJ Futures for the lead before the Euro opens on Monday
Elliott Wave: Same -Counting five wave up from the last low, target above 140
Trading Strategy: Same - Look for long trade set ups on retests of the levels and especially after abc corrective patterns

AUDUSD 1.0376
TradingLevels: We can look at the move up as positive and a retest of 105, that is still a long way to go, but there is a wave structure to fit this move, if you have been long from the 10272 then continue to hold. The risks are the 60% cut in the Bonds that can send this market down and on the flipside the European summit can send it up so stay long but use stops, this is a slightly dangerous situation with these news events, the cut in bonds should weaken the market, this is the norm, but things are far from normal as we are feed halve truths. Trade less.
Elliott Wave: Impulse intraday structures to the upside, count five waves from the last low
Trading Strategy: The normal structure of the pattern I’m looking at should take the market higher, the Cut in bonds is the clincher when the markets open look at the DJ Futures for the Indices lead as the SP500 Euro AUD Copper are all in harmony. If things are normal after a few spikes this way and that as the price is around the 104 then be patient and work one of the normal abc pattern across 104 and SG1 etc.

Indices

Dow Jones CFD 11,816
TradingLevels: Expect a corrective pattern across the 1800 (mTL8 a profitmaking level)
Elliott Wave: Intermediate Wave (2) we will talk about the wave count in the video
Trading Strategy:  The 60% cut in Bonds should see the price correct here and on the flipside we have the European Summit on Sunday, we just have to look at the DJ Futures open as there can be spikes here, it’s very unpredictable, that said the wave count should see higher prices

S&P500 CFD: 1,239
TradingLevels: The important levels here are the top of SG1 1230 as a support, the Midpoint as the first target where you can expect a corrective pattern, if support is found after the corrective pattern then 1272  
Wave count: Wave C in (2) is starting up. There are two possible impulse wave counts up that we are going to follow, I will explain this in the video
Trading Strategy: If you have been long from the last comments then the cut in bonds will be the risk on the open, otherwise hold long. Stops on longs would be technically Elliott at 1213, take large percentage profit at 1250 and wait for support

FTSE 100 CFD: 5493
TradingLevels: Apart from the old highs the 5600 would be the target
Elliott Wave: abc is completed at 5350, expect high ground and new high
Trading Strategy: Work the 5500, wait for the correctional pattern for support.

SPI CFD 4200
TradingLevels: Expect a move above 4200 (mTL2) but within the SG1 then a retest of 4200 as an abc corrective pattern
Elliott Wave: Impulse wave up, counting the five waves up from the last low  
Trading Strategy: If you are still long from the 4150 that’s fine, but you should have naturally covered at 4272 and 4200. The Dow is up strongly making new highs, but the SPI is not, so this drag is weakness, how the Dow being up 2% + will lift the ASX Cash market on open, however there are two other important points the European summit  on Sunday coming up with a figure to plug the current holes and the cut in bonds is likely see a drop in US Stocks?
11:30am  AUD        PPI q/q    0.8% 0.8%  
1:30pm  CNY        HSBC Flash Manufacturing PMI     49.9  

Summary

We got the move up in the Euro and AUD and the down swing in the Dollar and the upside on the Dow support at 11500 of Friday but didn’t see any volume move in to the ASX on Friday to secure any real long trades there, the strong move up in the Dow was based on Earning but it would also be from the European Summit meeting on Sunday as mentioned earlier in the week buy the rumour sell the fact and the fact may come in the form on the Bonds being cut by 60% surely this will rock stocks, but the Summit’s money to fill the leaky bucket is another risk on the open.
So there is a lot of things that can occur on this particular global opening, the wave count is for further upside and this is likely to come from the US Earning next week, but once the Earning season is completed we should then see weakness and there is weakness bubbling away in places like the Bank of America.  

In  terms of ASX trading strategies for Monday let see how the Dow Futures open and the Currencies. I will make any changes either here or in the ASX Day Trading section. We need to see what effect the cut in bond does and the Summit then we can pick up the momentum

Trading Quote
"Understand that learning the markets can take years. Immerse yourself in the world of trading and give up everything else."

Today's Financial Events
Time     Currency   Detail     Forecast    Previous
  
All Day  NZD        Bank Holiday      
10:50am  JPY        Trade Balance    -0.11T -0.29T  
11:30am  AUD        PPI q/q    0.8% 0.8%  
1:30pm  CNY        HSBC Flash Manufacturing PMI     49.9  
6:00pm  EUR        French Flash Manufacturing PMI    48.1 48.2  
6:00pm  EUR        French Flash Services PMI    50.6 51.5  
6:30pm  EUR        German Flash Manufacturing PMI    50.0 50.3  
6:30pm  EUR        German Flash Services PMI    49.8 49.7  
7:00pm  EUR        Flash Manufacturing PMI    48.1 48.5  
7:00pm  EUR        Flash Services PMI    48.6 48.8  
7:05pm  GBP        MPC Member Tucker Speaks      
8:00pm  EUR        Industrial New Orders m/m    0.1% -1.6%  
11:45pm  USD        FOMC Member Dudley Speaks      
4:00am  USD        FOMC Member Dudley Speaks

NOTES:
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this Technical Analysis report is written from 3.30 – 6.30AM
3. Always think things out for yourself, we are only here to bounce ideas around.

Good Morning & Good Luck!

                    A Leading Technical Analysis Video - CFD Trading Strategy Report 7.30AM

A Leading Technical Analysis Video ‘CFD Trading Strategy Report’ 
In-depth Analysis DJI SP500 FSTE SPI ASX200 Gold Copper Oil Forex AUDUSD EURUSD Dollar & CFD Trades FREE TRIAL

EarlyBird – Technical Analysis CFD Trading Report – The Day Ahead

Dow Jones – 12,055 +1.86%
Base Metals Positive
US Gold CFD: 1763
Oil WTI CFD: 94
Copper CFD: 357
US Dollar CFD: 76.90
EURUSD 1.3850
AUDUSD 1.04
Dow Jones CFD 12,000
S&P500 CFD: 1260
FTSE 100 CFD: 5775
SPI CFD 4270

News
NEW YORK (Dow Jones)--U.S. stocks advanced Thursday, driven higher by Greece's apparent reversal of plans for a referendum on its financial bailout and by a surprise rate cut by the European Central Bank.

CFD Commodities

US Gold CFD: 1763
Gold should find it’s high into the SG2 levels (1765 I 1772 I 1780) with the 17772 the important price point, if there is an extension higher the 1800 would see the selling.
The SG2 is more in line with stocks completing their rallies

Oil WTI CFD: 94
Oil is making a new high as mentioned yesterday, this is in line with Indices moving higher, but Indices are still considered in a rally. The rally in Oil as a wave five would be the same count for OSH and WPL to make one more new high as a fifth wave, the OSH is up against the MediumLevel 6.50 if this was going to make a new high then Oil would need to get above the 95, the normal price points are 96.50, 97.72, 98.

Base Metals

US Spot Prices (in l/b)
US Copper:           Last: 3.59+
US Nickel:             Last: 8.33-
US Zinc:                Last: 0.88+
US Aluminium       Last: 0.94+

Copper CFD: 357
Same - While the price is above 350 the Midpoint then the Metals are positive and under 350 they are negative.

Forex

US Dollar CFD: 76.90
All markets are still in a ABC correction as is the Dollar, so from the 77.80+ high a few days ago the Zigzag pattern down is the abc correction , it’s in its latter stages, when it finds support on 77.20 it can be traded long, the 76.50 is the supporting area

EURUSD 1.3850
TradingLevels: The Elliott Wave count is  a little higher, this is a corrective rally in line with US Indices and is essentially a retest of the nearest largest number 140, the wave count suggests it may not get to that price but we should leave it on the table.
Elliott Wave: Count the five waves from the last low around 1.3660, the price is in the third wave now, this means the price need to go through wave four and five which should see it up higher above around the 139, once these five waves complete the price should turn down
Trading Strategy: 1.38 and 1.3772 as support, use the sublevels to trade, depending when you get to the market, the SG1 as tested support of the Midpoint 13850

AUDUSD 1.04
TradingLevels: In the bigger picture the range price points as support or resistance are 10272 and 10772. Support on 1.03 suggests the next level 1.05
Elliott Wave: Look for three swings up, abc above 105 the 61.8% is around 10572 (SG2) but the support starts at 1.05 and that should be the trading target, short term traders need to use the sublevels as support SG1 10430 and the Midpoint 10450 with the exit at 10472 and 80 SG2
Trading Strategy: Look for retested support on 10430, take part profit at 10450 wait for support and trade to 65 and 72, The Elliott count can have the end of this structure at the SG2 10472, Count the five waves up from the 103

Indices

Dow Jones CFD 12,000
TradingLevels: The 61.8% retracement level is near the 12,000, the 12,100 is the first supply area and the real support is the old high or just below at the 12,172 SG2 area
Elliott Wave: There are two ways of looking at the wave count but they both come to the same conclusion and that is they should finish their rally around these highs 12,000 to 12,100 as the Wave 2 rally
Trading Strategy:  The price should start working lower from the 12,100 area but we need the evidence in the wave structure to the downside first, we also need to the US Dollar complete its abc correction and move above the 77.20 and of course the Euro following the SP500 and the Dow, the Gold Market should also top at 1772 area, any way we just have to wait and see if it occurs and look for the set up to short

S&P500 CFD: 1260
TradingLevels: Resistance 1272 the 61.8% is around the 1262
Wave count: Wave 2 rally that should complete into SG2 (1265 I 1272 I 1280)
Trading Strategy: Patiently waiting for evidence of a turn down shortly as Wave 2 rally ends

FTSE 100 CFD: 5775
TradingLevels: Resistance 5600 the 61.8% is just above the 5600
Elliott Wave: ABC rally for Wave 2 in the later stages
Trading Strategy: Waiting for evidence of a turn, this will probably come sometime after the G20

SPI CFD 4270
TradingLevels: The 4272 SG2 and 4300 are the resistance a move above this would see the resistance or rather failing support at 4330 SG1 The current price and the 4320 is the 50 – 62% retracement levels
Elliott Wave: Wave 2 rally in its later stages
Trading Strategy: Expecting a turn down from the around the 4272 to 4350      

Summary

Markets move up but we consider this still a rally to each market 61.8% zones as a Wave 2 not Wave 4. We don’t have any evidence that the Wave 2 is over.
The ECB cut rates and the G20 talks, this will either create a spike or a turn in the market creating the top of Wave 2, as you can understand it’s tricky navigating through this, but we have to trade less or stand aside until we can see the evidence of the first small degree impulse wave (five waves) to the downside to confirm the top of Wave 2.These comments are for nearly all markets.

The normal flow of events in the weekly cycle is Thursday being down with the selling volume diminishing in the afternoon and Friday morning buying volume with the afternoon session closing higher on higher volume and the follow through on Monday as the bull day, but we are not in normal time as there is too much outside influence that causes markets to spike this way and that, so until we have a clear direction and we are looking for the Wave 2 to complete so we can short, but as mentioned we need the set up to fall into place.

Just on another note, if the US wave count is correct and we are indeed heading into an Intermediate Wave (3) it is likely that ASIC may ban short selling of CFD providers, if that is the case then your CFD Provider will simply ask you to exit your short positions. But this does take away the opportunity to short, so if this is of interest to you then you need to have other products to short at a moment’s notice, as not all products can be banned, if you would like to prepare for this then email me and I will put you in touch with other companies locally. This banning did occur in the last Intermediate Wave (3) in the GFC and as mentioned we can be moving into that position now, this current Wave 1 down and the Current rally Wave 2 is part of the Intermediate Wave (3) the beginning of it.

Trading Quote
Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets

Today's Financial Events
Time     Currency   Detail     Forecast    Previous
  
11:30am  AUD        RBA Monetary Policy Statement      
Day 2  ALL        G20 Meetings      
8:00pm  EUR        Final Services PMI    47.2 47.2  
9:00pm  EUR        PPI m/m    0.3% -0.1%  
10:00pm  CAD        Employment Change    20.3K 60.9K  
10:00pm  CAD        Unemployment Rate    7.2% 7.1%  
10:00pm  EUR        German Factory Orders m/m    0.3% -1.4%  
11:30pm  CAD        Building Permits m/m    2.7% -10.4%  
11:30pm  USD        Non-Farm Employment Change    98K 103K  
11:30pm  USD        Unemployment Rate    9.1% 9.1%  
11:30pm  USD        Average Hourly Earnings m/m    0.2% 0.2%  
1:00am  CAD        Ivey PMI    56.2 55.7  
4:00am  USD        FOMC Member Tarullo Speaks  

NOTES:
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this Technical Analysis report is written from 3.30 – 6.30AM
3. Always think things out for yourself, we are only here to bounce ideas around.

Good Morning & Good Luck!

Code: SPI CFD Trading
Date: 30 November
Chart: 2 Hour Chart
I have added an ‘Alternative’ bullish wave count in green text as the Asian markets appear more bullish than the US Markets. Support on SG1 of 4100 that is 4130 would help trigger this scenario now, of we would have to wait for the pull back as Wave (ii).
We also need to continue to follow the wave count in line with the US Markets, but as mentioned in the EarlyBird Report the Dow Jones would need to lock under 11500 the MediumLevel to help confirm the downside.
So the 4130 as support for the upside and 4072 as resistance for the downside and the Wave b) or Wave (ii) so there is a certain amount of understanding and navigation to be done at 4100, it is the line in the sand and we are looking at all the possibilities
EarlyBird Report Comments:
SPI CFD 4100
TradingLevels: The 4100 as support or resistance is the play, expect a small corrective pattern here, If and when the top of subgroup1 4130 develops as support then you can add to longs, with the target at 4150
Elliott Wave: Yes the 38.2% retracement level is the 4100 (mTL1) however we have to consider the move up as just Wave a) of Wave (iv), do there is Wave b) and Wave c) to come, an abc zigzag pattern, it is possible that the Wave (iv) is completed at 4100 now, but we have to look at all the possibilities when using Elliott and then eliminate them based on evidence.
Trading Strategy: Expect the price to work down below 4100  
SPI CFD Trading Report - Technical Analysis Index Trading

CFD Trading Report
 

CFD Trading Report

There is potential for further upside in our market, but I’m not sure if the current momentum can take it higher, it’s certainly appealing; however there was not follow through in the US markets. The current momentum in our market can stall here like the Dow / SP500 has and is likely to correct somewhat, if we take trades on our market that look appealing, that is strong closes on higher volumes such as AIO, ASX, AUT etcetera we may get trapped and I was wondering if we should wait for a pull back or small corrective pattern first such as a small correction at the 4300 for the ASX00. Other Asian markets also seem firm and can go higher such as the Nikkei, I will have to leave the risk with you on such stocks like the above, but if you do take stocks like these, lock in profits asap and exit on weakness or create much wider stops as further upside for Asia is expected

Get all trades to break even as step one, even though we are positive on the local market, the US is not showing strength nor is the Euro, it may and we will wait, but we must protect our trades in the meantime.

 CFD Trading Report

CFD Trades: CFD Trading Report

Code: SPI CFD / ASX200 XJO
Date: 9 December
Chart: 5 Minute Chart
Target 4172
EarlyBird Report Comments:
SPI CFD 4220
TradingLevels: The price under 4272 is bias short
Elliott Wave: The pattern at 4300 and below is more bearish looking that bullish, the structure appears to be in a series of waves one and two’s to the downside
Trading Strategy: The move down in the US Indices is not confirmed as a impulse wave down yet, it only has three waves down which is bullish corrective, it can however turn into five waves down in the session or maybe this session as there is still an hour and a half to go until the close a move to 11900 should do it.
China CPI figures at 12.30.

CFD Trading Report

Video: http://youtu.be/YqQTX-9Y-Fw

Dow Jones – 11,905 +0.69%  (6.30AM)
Base Metals Negative
US Gold CFD: 1577
Oil WTI CFD: 95.74
Copper CFD: 326
US Dollar CFD: 80.30
EURUSD 1.30
AUDUSD 0.9933
Dow Jones CFD 11880
S&P500 CFD: 1220
FTSE 100 CFD: 5400
SPI CFD 4150

News
U.S. stocks sank for a third straight day as falling commodity prices added to investor NEW YORK -(Dow Jones)- U.S. stocks gained after investors took heart from stronger U.S. economic data, but fell off session highs after the head of the International Monetary Fund stoked fears that Europe's sovereign-debt crisis is worsening.

Stocks rose after the Labour Department said a seasonally adjusted 366,000 workers filed initial jobless claims in the week ended Dec. 10, well below forecasts and the lowest since May 2008. The figures were the latest indication the weak jobs market is slowly building strength. The four-week moving average of new jobless claims fell to its lowest level since July 2008.

CFD Trading Report Commodities

US Gold CFD: 1577
Elliott wave count, finishing wave v) of (iii) into 1560 – 1550 then Wave (iv) a sideways corrective pattern within the range of 1550 – 1600. Once completed then Wave (v) down to 1500.  Wave (iv) can get complicated, it’s a place that short term traders can lose money getting stopped out etc. it can really do your head in, so either stay short with wide stop above 1600 and take part profit here to 1550 or leave Wave (iv) alone once it bounces off 1550

Sliver no change, just the bounce off mTL8 | 28.00 to retest 30.00 then down again. However the rest to 30.00 may not make it that far, study the corrective rally pattern (small wave four) and work with the 29.00 and sublevels around 2900

Oil WTI CFD: 95.74
Oil is vibrating around the Midpoint 95 and will drop lower once completed into Minor Group1 93|92|91 expect the price to bounce around a lot into MG1, its likely to bounce from 93 back to 95, then down into 92 and this is where the support is, sure the is MediumLevel support at 90.00 which is the MediumLevel. We also have to be aware of another wave count, I have mentioned the pattern down in the Global indices can be bullish corrective as it has confirmed the larger downside as yet, so the oil can be a larger ABC pattern down from 100 to 90 and then a move back above 100 in line with Indices making one more new high, this is not a matter of opinions, it’s a wave count that needs to play out one way or the other and we need to be aware of it, I will outline this in today’s video. However at the moment the trend is down and we are trading down, but we must also scale out profits into the 90 and if the 90 becomes the resistance then move back in short, this way we can accommodate any possible uprising in a balanced way 

Base Metals

US Spot Prices (in l/b)
US Copper:           Last: 3.24-
US Nickel:             Last: 8.06+
US Zinc:                Last: 0.83-
US Aluminium       Last: 0.87+

Copper CFD: 326
Base Metals are slightly positive today, we should expect support and bouncing around a lot within Minor Group1 330|320|310 the price should stay under 338 and eventually get trapped further into MG1. As mentioned in Oil an Alternative count across all markets is possible and today is about studying this Alternative count while it has the structure to unfold, this would put copper back retesting 350 supply levels and making the daily pattern sitting on 300 a larger Triangle ABCDE and we would be in the lower end of Wave D now with an Wave E to move up from the 310, this is an Alternative count but must be put on the table until proven otherwise, this would also make the AUDUSD and ASX move higher and we will look at their Alternative structures in line with the US Indices

Forex CFD Trading Report

US Dollar CFD: 80.30
Most markets are having a small wave four rally, so the US Dollar is having its small wave four pull back into the 80 as would naturally be expected, once this pullback is completed another push up to 81 and then another correction back into 80 this would be the creeping topping part of the trend we were talking about yesterday as trends have a beginning middle and end, they are also fractals so they are part of a larger pattern and they contain smaller patterns, the other element is the geometry of nature and the psychology, essentially creating the larger corrective pattern across TL8|80 this is the first high above the level with the ‘Classic Pattern’ after the first high above a level and this one is still playing out, but once completed a larger corrective pattern should unfold, this will give the other markets including stock a chance to rise and this is connected to the Alternative count we are talking about today


EURUSD 1.30
Day Trading: the price is in a small wave four at 130 and wave fours are complicated and best left alone. If SG1 13030 finds support then trade long for the short term, if the 130 becomes the resistance than work the levels in SG2 any shorting would require the 72 as resistance 12972
Elliott Wave: Wave (iv) is unfolding at 130 and potentially can move higher, but it is corrective and once completed move down for wave five (iv)
CFD Trading Report:  : Once this wave four is completed at 130 then it’s down, it’s fine to scalp 10 pips here and there but wave fours don’t bring trends. The bigger picture traders hold short

AUDUSD 0.9933
Day Trading The short term is about retesting 1.00, failing the retest for another probe lower. The current trend pattern up to 1.00 from 9860 is in three waves, i.e. corrective. However corrective patterns can expand so the move up could be only one leg of the corrective pattern, you would need to observe the other currencies and the Indices
Elliott Wave: Wave C of Triangle (E) below 1.00 (see 4 Hour Chart)
CFD Trading Report:  Continue to scalp through the sublevels while around 1.00

CFD Trading Report Indices

Dow Jones CFD 11880
Day Trading: Let’s keep it simply while the price is under 12,000 it’s bearish and above bullish
Elliott Wave: The expected bounce of 11,800 MinorLevel mTL8 is underway and should complete under 12,000 and then move lower through 11,800. As mentioned yesterday the current move down can still be corrective or an impulse wave unfolding in a series on waves ones and twos, we are short until proven otherwise, but we need to be aware of the corrective pattern and line it up with the other markets in case there is a turn up next week.
CFD Trading Report:  :  The resistance is at 12,000 then 11,900 on a failed retest. The support at 11,500 is the critical game changer, as support a bullish Elliott wave count exists the 11,500 as resistance creates the larger bearish pattern Intermediate Wave (3) down only time will tell, however we have to line our trading plan to accommodate both patterns 

S&P500 CFD: 1220
Day Trading: Support 1,200 if support is found on top of Subgroup1 SG1 1230 then expect further upside, if the pivot in SG1 1220 develops as resistance then expect 1200 to be tested
 Wave count: We have two count one bullish as in the charts on the site and one bearish here while the 1250 remain the resistance, it is what occurs above the 1200 support that will create the divide between the two wave counts, as it unfolding there will be degrees of bias and it starts with the pivot 1220 as support or resistance
CFD Trading Report:  : Short term will depend on 1220 as support or resistance

FTSE 100 CFD: 5400
Day Trading Bias short under 5372
Elliott Wave: The pattern at 5400 is corrective, but it can expand, the move up could be only the wave a of an abc corrective pattern the 5372 as resistance would be the safer short
CFD Trading Report:  : If the price gets trapped in SG2 especially the 5372 then short but while its above we have to accommodate a larger abc corrective pattern  

SPI CFD 4150
Day Trading The 4200 is the pivot within Minor Group1 and while the price is under this then the bias is weaker and above as support we would need to be long. From that we can continue to break bias down to the point within your trading time frame, if you’re a sublevel trader you would consider the 4100 as support and the 4150 the Midpoint you would simply be long or short from this number, drilling down you would look at the pattern and volume at the midpoint, you would use your skill of pattern recognition including your understanding of the retest checking the price and confirm that with the volume, then you would scale in accordingly and you know the levels where you have to exit.
Elliott Wave: There are two counts as mentioned in the DJI SP500 but also consider the Elliott wave count on the AUDUSD because the current price on the ASX200 SPI has support off the 4000, so long trade are fine too, you just need to know the price that’s supports the market in your trading time frame you can’t trade without know that price
CFD Trading Report:  : While the price is under the 4172 SG2 the pressure is down, the Midpoint is next, the move up off the 4100 appears to be corrective (three waves) but its early yet. It’s all about the Midpoint being long or short from this price point.

CFD Trading Report Summary

Today is talking about the current small wave four pullback before a move lower and to also talk about the bullish alternative count in the markets, which is a bullish count, while it exists and until proven otherwise we have to include it in our thinking, that is, in our trading decisions.
We may have to turn long next week and this would mean packing up our short trades and catching the train north.

Weekly Cycle, Thursday bearish with selling volume drying up which is the first sign of support, Friday; if Fridays close is strong on higher volume then Monday will be the bull day. This means we would need to see the price and volume increase steadily throughout the day and day traders would move with this. That said, we are expecting this current move up a corrective covering wave four rally and once completed another move down, either way you need to know your price points and the patterns that wrap around your price points as support or resistance and look to the volume to confirm the price action, analysis is one thing, but trading is another and you need to trade what you see and we use the levels, volume and Robo these tools control the risk, they also get you on the right side at the right time, they also let you know where to take profits and place stops.

Trading Quote

The markets are clearly not a random walk. The markets are not even efficient because that assumption implies you can’t make an above-average return. Since some people can do that, I disagree with the assumption.  Monroe Trout

Today's Financial Events
Time     Currency   Detail     Forecast    Previous
 
Tentative  GBP        Nationwide Consumer Confidence    34 36  
7:30pm  EUR        ECB President Draghi Speaks      
9:00pm  EUR        Trade Balance    1.3B 2.1B  
12:30am  CAD        Foreign Securities Purchases    8.23B 7.35B  
12:30am  USD        Core CPI m/m    0.2% 0.1%  
12:30am  USD        CPI m/m    0.1% -0.1%  
3:15am  USD        FOMC Member Evans Speaks      
4:00am  USD        FOMC Member Fisher Speaks

NOTES:
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this Technical Analysis report is written from 3.30 – 6.30AM
3. Always think things out for yourself, we are only here to bounce ideas around.

Good Morning & Good Luck!

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