S&P 500 E-mini Futures 2nd MAY 2012 Daily recap

S&P has already reached the Weekly highs, and with Wednesday is starting below the red filter @ 1405 it might struggle to rise.

 if it's going to continue higher, then after lunch in the US (or 3am AUST EST)

S&P Weekly and Daily cycles

Early weakness on the S&P, as price is coming down from the Weekly highs and also below the red filter @ 1405....

until after lunch when short-term buying came into the market off the daily levels @ 1392