S&P (e-mini ) 27th FEB 2010 Weekly

S&P Monthly and Weekly

There's not much to say other than I think the S&P and the DOW are heading higher in March.

There is nothing on the horizon that suggests further weakness other than short-term sell patterns of 1-2 days

The support levels are the Weekly 50% levels & the March 50% level @ 1098 next Week

Random resistance levels will be the weekly highs @ 1121 & 1132, with a view that price could reach the March highs by the end of the Quarter

S&P (e-mini ) 20th FEB 2010 Weekly

S&P Monthly and Weekly

Last Week saw the Weekly 50% level support price and push upwards into a higher Friday close, which also closed above the 3-week cycles.

This pattern is bullish and confirms my view of higher prices in February, with next week's target the Weekly highs.

However, Friday stalled below the highs on Friday, which often leads to a 2-day reversal at the start of the week.

That can be a reversal down into Tuesday's 5-day lows

or it can be a 2-day stall and then a continuation upwards from the brown Weekly 50% level.

Personally I would like to see a move down into Tuesday's lows because then there are more gains on the upside.

DOW S&P Futures 13 FEB 2010 Weekly

DOW S&P Monthly

US markets are trading around the higher timeframe 50% levels.

It's not rising up from support levels, and Friday's price action has failed to make a clean break.

Based on the current price action I would have to treat next week as another consolidating 5-day pattern.

Another Week will bring the 3-week highs down and will match the the recent highs from 2-weeks ago.

If US markets are going to move higher then it will break out of the 3-week highs and see further gains in March.

If US markets are going to go lower, then once the 3-week highs catch up, the trend will push down towards the 3-Quarterly 50% level in March.

DOW S&P Weekly

Last week I expected a 2-day counter-trend move up into resistance levels.

Once Wednesday failed to continue down it looked like this week was going to be a 5-day sideways pattern with the potential of a late rise on Friday.

However, Friday failed to break key levels.

Therefore I'm treating next week as another sideways price pattern, and resistance on the S&P at 1087.

And the Weekly highs are resistance if there is a push upwards next week if the weekly 50% levels holds support.

S&P (e-mini ) 6 FEB 2010 Weekly

S&P 500

Last week started with the short-term counter trend move upwards (2-3 days) and then the trend continued down into the Weekly lows.

Expectation that price is heading down into the February lows, with matching Weekly lows.

There are two possible patterns for next week...

1. Continues down on Monday and Tuesday to complete the February lows.

2. My preferred pattern is....

A move upwards into the 50% levels in February and then a blow off bottom into February targets.

This will complete my move for the first quarter from the highs in January and into support levels in February, and I would like to guess that the first Quarter will stabilise and move into consolidating pattern.