SPI Futures 13th March 2012 Daily recap

Because of the position of the  Weekly & monthly March 50% levels my view is that it will act as resistance...confirmed by the close below the 50% levels @ 4199 towards the 42 point low @ 4180-4174 (Support)


otherwise, 4199 could support the market, and the market rallies towards Tuesday's highs:- 4253. (resistance)


SPI Weekly and Daily cycles


Market rallied in to Tuesday’s highs @ 4253 and stalled.

Even though there was an expectation that the SPI would continue higher after reaching its support levels last week @ 4140, (as per Weekly report)...

there wasn’t a long set-up today because the market was below the Monthly and Weekly 50% levels…

And the market wasn’t rising up from lower support levels…4199 or the R42 low @ 4180-74




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