Wrap up of the ASX 200 index action for 31st December 2009

Today the index moved up to 4870.60.

It did not however reach the 4881 level as it was expected to do and which we are waiting for.

Just to mention once again that it is no longer expected that that index should close above 4881 and open the trapdoor at this price, all that is required is for the index to reach this price any which way.

Another mention for Jobshere before I sign off for the year. It is sounding like a broken record but there is a method to the madness.

Happy New Year to all.

2010 will be a bountiful year.

Trading Update 31st December 2009

This is an update to quickly mention that there has been a change in expectations for trading the S&P/ASX 200 index.

Right now there is no longer an expectation for the index to close above 4881 and open a trapdoor at this price.

All the index has to do is hit this price any which way to revert back to the short position on the index to weaken to below 4637.

As this being written the index is sitting at 4873 and in all likelihood it will hit 4881.

Just finally the new website that's all about Jobs in Australia, jobshere.com.au. Have a look.

Commentary on the 30th December 2009 trading session

Okay so today the ASX200 traded lower closing at 4833.3.

Just to recap that the index is expected to rise above 4881 and then fall through a trapdoor at the 4881 level as the trend position is that the index established a resistance point at 4637 and is now trading counter to that.

Today was a do nothing day, however given that the trading of the index has only been going for less than a month, it began on 3rd December there are only a handful of key price levels established to trade around.

The longer the index is traded and observed the more price points that will be established and hence there will be more frequent trading.

As can be seen there are advertising on this blog placed by Google as I have signed up for Adsense. If anything interests please click ahead. I am not in a position to make any personal recommendations.

I trade shares online through E*Trade Stockbroking and CFD's through CMC Markets.

Just a final note my friend has started a new jobsite in Australia. It's called Jobshere

It will be all about Jobs in Australia.

It's in startup phase and will grow quickly in 2010 and all your support at this early stage will be much appreciated.

Till tomorrow, all the best.

Current Open position on the S&P/ASX 200 Index

Hi Welcome to my blog. My name is Suresh. I am in Brisbane, Australia.

A decision was taken recently to actively trade the S&P/ASX 200 Index in Australia. This blog is to record the trading exploits.

Currently it has been established that the S&P/ASX 200 Index found resistance at 4637 on 14th December 2009.

However on the 22nd of December the S&P/ASX 200 started a countertrend move when it rose through the 4646 level. This countertrend move is expected to complete at a point above 4881.

The 4881 price point is like a trapdoor for the index.

The following are the ways that the index can open up this trapdoor.

- with the relative strength of the index being below 4881 the index is required to close above 4881 and then subsequently open weaker at a price above 4881 and fall through the trapdoor

- however in the meantime if the relative strength of the index rises above 4881 then it will have to open stronger above the 4881 level and then fall through the trapdoor.

So the end of post position is long the S&P/ASX 200 from 4646 on 22nd December 2009.

Just finally a plug for a new jobs portal that is about to start in Australia please go to www.jobshere.com.au and have a look around. Please add it to your bookmarks for future reference. Please tell your friends about www.jobshere.com.au