SPI Futures 4th MAY 2012 Daily Recap

Today:- I'm struggling to see an UP day, other than a 21 points rise and close yesterday's Gap

Trend guide on open is the 5-day 50% level @ 4410.

Below 4410 and first target is 21 points down into 4392, and a possible move down Friday's lows

SPI Weekly and Daily cycles

THE SPI opened higher closing the Gap in early trade, and completing the move down into 4292 as the 1st Target.

Rest of the day consolidated with a downward bias, as the Weekly level @ 4384 formed support