SPI Futures 7th March 2012 Daily recap

the SPI is trading around higher timeframe support zones, and my view is that the SPI can swing up towards the March 50% level @ 4222, but it might take 2 -days for that to happen...

as 4185-88 could stall the trend from rising today.

SPI Weekly and Daily cycles.

Market didn’t reach 4185-88…(resistance zones….)

But price  proceeded to move down into the higher timeframe Support levels @ 4140 (Weekly lows)

The market continues to remain with breakout patterns in the daily cycles, and because of this the trend may continue lower once again tomorrow.

However, that will depend on US markets reaction to the payroll numbers tonight, and anything positive could see US markets rise, as they have done on the past two occasions.

Resulting in the SPI making it’s way up towards the March 50% level by tomorrow.

Anything negative, and that’s another story.

SPI Monthly and Weekly cycles