SPI FUTURES 19th December 2011 daily recap

Based on the Weekly close below the December 50% level @ 4134, the trend bias is down towards Monday’s lows (4072/78)

Below 4072 and trend bias is down into 4037.

SPI Weekly and Daily cycles.

 As mentioned in the daily report….

The reason why I favour a down move is because of Thursday's 5-day breakout of the 5-day lows @ 4147, Friday's retest of the breakout area and failure, and now the expectation that's it going to extend down into Monday's lows:- break and extend pattern

The bias was down…..and based on Monday’s breakout of the daily lows and Weekly level @ 4072/78…

Tuesday is likely to continue down into the Weekly lows @ 4000








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