SPI Futures 24th April 2012 Daily recap

There are two plays today based on whether the trend continues down towards Tuesday's lows....

or finds support  (weekly 50% level) and makes a late charge towards 4377 and the daily filter.

SPI Weekly and Daily cycles

Overnight the SPI found support at its Weekly 50% level @ 4323.

Above the 5-day 50% level @ 4342, and the late charge towards 4377 actually occurred early cin the day

whilst 4375/77  formed resistance...

and the market continues to consolidate