S&P 500 E-mini Futures 11th October 2012 recap

Daily close below Weekly lows and Daily lows @ 1427 and trend bias is down into Thursday's lows (random Support)
Daily 50% level random resistance (1-day counter-trend move)

S&P Weekly and Daily cycles

My view at the start of the day was to continue lower using 1427 as resistance, and down into Thursday's lows @ 1416

but instead the 4 hour close above 1427 attracted buying towards the daily 50% level @ 1438

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