SPI Futures 9th March 2012 Daily Recap

This week’s low Support suggests the trend can continue to rise upwards, and move towards the MARCH 50% level @ 4222, and as high as the Weekly 50% level @ 4237

Potential pattern is a 21 point down move on open to close the gap @ 4180, and then continue towards a higher move and the formation of the next spiral point @ 4220/22.



SPI Weekly and Daily cycles

Early down move from the 5-day 50% level of 21 points closed yesterday's gap, which was also the top of the spiral filter @ 4180....

This provided the support pattern intra-day, and then the continuation upwards into the March 50% level 4222, as the next spiral filter formed @ 4220.

It didn’t move as high as 4237 (Weekly 50% level), as part of retesting Tuesday’s breakout @ 4239…


However, any further gains towards the Weekly 50% level @ 4237 will depend on US markets moving higher on Friday.


As we can see the Weekly levels provided enough information this week around it's lows @ 4140 and subsequent lower level @ 4188




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