SPI Futures 6th March 2012 Daily recap

Trend guide 4270

Random support Tuesday’s lows and the Weekly 50% level @ 4237/39

Note;- as per Weekly report… my view is that the trend is moving down towards the 2nd Quarterly 50% level.

SPI Weekly and Daily cycles.

Tuesday didn’t find support  @ 4237/39 and rise back towards 4270

Instead it failed, and has broken out…

The expectation (depending on what happens in US overnight), is that the SPI is moving down towards the Weekly lows, as part of the 1st Quarter resistance pattern as described in the Weekly report.