SPI futures 30th March 2012 Daily recap

Today’s trading is based on whether the market remains consolidating between the weekly levels...

or it makes a play for Friday's highs on the last day of the month/quarter

Trend guide 4355.

SPI Weekly and Daily cycles…

Last Day of the month & quarter has seen the market rise up towards the MARCH highs @ 4385 (Note:- March highs in the cash market is 4378)

Early close above 4355 saw more buying  as the market hit the Daily highs...reversing and closing on its daily lows.

It will now depend on US markets to see if the last day of the month/Quarter reaches the MARCH highs @ 4385 overnight...and makes a play for the April highs early next week.

Keep in mind that there is also the view that's it's going to retest the 2nd Quarterly 50% level.

Weekly report out tomorrow