SPI Futures 22nd May 2012 Daily recap

The SPI could continue back towards the 2nd quarterly 50% levels @ 4143/64.

But the daily 50% levels are seen as resistance @ 4122/27 with a possible retest of yesterday's level @ 4070

SPI Weekly and Daily cycles

My preferred pattern towards was a move down into 4070 before it would continue higher....

simply because the intra-day patterns didn't provide ideal 'long' set-ups during the day...

Whilst the Daily 50% level @ 4122/27 belatedly formed resistance.

current price action is a rise towards last week's breakout levels @ 4143/64



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