S&P 500 E-mini Futures 27 July 2012 Daily recap

Weekly lows support and price action suggests a 3-day counter-trend move upwards.

However, the daily cycles aren't providing the ideal set-up based on the channels

S&P Weekly and Daily cycles

As noted in yesterday's recap, 3-day move will take it up towards 1360, which completed today.

It didn't start off with the ideal set-up, as the first 4 hours pushed lower from 1335,
but then the Weekly cycle pattern kicked into gear.

The 3-day counter-trend upward move from the Weekly lows has completed,
but there is a good chance that Friday could continue to move higher using the Weekly 50% level as the trend guide.











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