S&P 500 E-mini 15th February 2012 Daily recap

Wednesday's highs (Weekly) are seen as resistance.

if the day closes below the daily 50% level @ 1348.50 then the trend bias is to continue lower on Thursday & Friday.

red filter is the trend guide

S&P Weekly and Daily cycles

Reversal down from the weekly highs, has seen the market close on the Weekly level @ 1342, which has been acting as support this week

As noted in the daily report…. Below the daily 50% level @ 1348.50, and my view is that Thursday & Friday will try and move lower.

potential target the Weekly 50% level.