SPI futures Australian Stock Market 2nd February 2012 Daily recap

Trend guide 4242....market dynamics in the monthly and Weekly cycles suggest a move upwards.

Primary cycles @ 4250/4292 suggest more resistance during the first Quarter.

SPI Weekly and Daily cycles

Even though US markets continue to rise upwards...

and the Monthly and Weekly cycles have formed a robust support zone this week...

the SPI continues to BUTT its head around the Primary cycle 50% levels @ 4250/4292