SPI futures Australian Atock Market 14th February 2012 Recap

Trend guide 4246

Either the market continues up towards the Weekly highs…

Or the Yearly 50% level continues to push the market downward:- first target 4218 (Weekly 50% level), and as low as Tuesday’s lows.

SPI Weekly and Daily cycle

Market opened below 4246, and proceeded to move down into the Daily lows & February 50% level once again.The Market continues to struggle during the first Quarter, as the Weekly 50% level @ 4218 failed to provide any support today.

Until US markets begin to unwind from their highs, the SPI will continue to consolidate around these levels:- February 50% level.