S&P 500 E-mini Futures 17th MAY 2012 Daily recap

Below the Weekly lows @ 1330.75 and the trend bias is down into the MAY lows @ 1315.50

Helped set-up with the patterns in the daily cycle:- @ 1330 SELL

 Random Support :- Thursday’s lows & MAY lows @ 1317/1315

&P 500 Weekly and Daily cycles

Thursday’s short sell down from 1330 into the Daily lows played out, along with a random support pattern off those lows of 8.5 points.

However, the robust support zone in MAY @ 1315.50 didn’t hold...

 and as mentioned in the Weekly report …. The market will break, as often after a NO Control pattern the next 5-days trends in 1 direction.

And that trending direction now looks like it’s making it’s way towards the 2nd Quarterly 50% level @ 1249