S&P Monthly S&P upside target in 2010 is 1200-1255.
At this stage the upper target will be based on the closing price of the first Quarter currently @ 1223
Currently the market is trading around the first quarter highs @ 1177 and the March highs @ 1162
Next week can continue to remain around these resistance levels until the resistance levels shift at the end of next week.
The most ideal set-up to capture any longs in the market would be a rotation back towards the April 50% level.
S&P Weekly
Weekly 50% level is the trend guide and can see a push towards the highs again.
The medium term trend guide is the Weekly 50% level so it won't take much for the trend to change.
A pullback into the 3-Week lows which match the April 50% level should continue upwards in the 2nd Quarter.
