SPI Futures 9th MAY 2012 Daily recap

Same pattern as yesterday using 4287 in early trading

 with Random Support around Wednesday's lows @ 4263/64.

Overall Downward target 4252/54

SPI Weekly and Daily cycles

Early sell set-up @ 4287 pushed the market down into Wednesday’s lows @ 4262 (random support)

But then further weakness sent the SPI lower, as the market move back into the 2nd Quarterly support zone of 4252/54

As mentioned in the Weekly Report, 4252/54 is a potential support zone during the 2nd Quarter that can mirror the exact same patterns as the past 3-Quarters.

However, if it going to break and continue lower, it's normally going to happen in the month of MAY:- MAY lows @ 4161