SPI Futures Australian Stock Market 11th April 2012 Daily recap

Support 4247

whilst Wednesday's lows @ 4270 could act as resistance.
SPI Weekly and Daily cycles

Currently the Weekly lows are supporting the trend....

However, as mentioned in the Weekly Report...

My view is that price is moving down into 4172 & 4146 (2nd Quarterly 50% level).

SPI futures could rise upwards overnight, but when we look at the S&P 500, price is trading below their own Weekly lows, which could result in further weakness overnight.