S&P (e-mini ) 29th October 2010 Weekly

S&P 500

S&P continues to hit resistance around the October highs, but failing to reverse down towards trailing support levels.

Those October highs (resistance) have now shifted and dynamically moved higher during November. (next Week)

The trend guide will be simply be defined by 1182-1187 and next week's levels.

My preferred pattern continues to be a minor reversal down into support levels (Weekly lows) before the trend has the potential to move upwards.

If the trend is going to continue higher, then the weekly lows need to hold support using a lower 'Friday' close pattern.

S&P (e-mini ) 23rd October 2010 Weekly

S&P Monthly and Weekly

1182 continues to form a major resistance zone, as seen earlier this week with Monday and Tuesday selling down...

However, the Weekly levels continue to support the market.

And even though I think the market is trying to push down towards the November 50% levels...

It can just simply continue upwards and follow the Weekly trend next week towards the highs @ 1194+

Trend guide 1177

S&P 500 (e-mini ) 16th October 2010 Weekly

Market dynamics suggests more gains next week towards  Monthly highs, using the Weekly levels (white) as a trend guide @ 1154.

If or when the S&P 500 reaches 1182, my opinion it will lose steam and begin to unwind later in the month back towards the Monthly 50% levels in November ....

Previous weekly Report

S&P Monthly and Weekly

1154 sent the S&P up into resistance levels in the 4th quarter @ 1182

My view is that the S&P is starting to lose steam around these highs, but to help verify weakness price needs to be trading below 1166 next week, along with a possible Wednesday 'sell' pattern.

S&P (e-mini ) 9th October 2010 Weekly

S&P Monthly and Weekly

Early sell pattern down into the Weekly 50% level, and as per Weekly report this week has followed Set-up B as price has moved up from 1143.50 to 1165…

Market dynamics suggests more gains next week towards the Weekly and Monthly highs, using the Weekly levels (white) as a trend guide @ 1154.

If or when the S&P 500 reaches 1182, my opinion it will lose steam and begin to unwind later in the month back towards the Monthly 50% levels in November

S&P (e-mini ) 2nd October 2010 Weekly

S&P Monthly and Weekly

3rd Quarter closes with price trading around the September highs @ 1142

4th Quarter target is 1174 to 1182.

My preferred pattern is to have the S&P move lower over the next 2-weeks down into the October 50% level and then continue higher.

Weekly trend guide 1143.50

first Weekly lows will form support levels @ 1111-17 and then drift lower (2nd week)

SET-UP A, as described in the previous weekly report

SET-UP B, is the trend moving upwards from 1143.50 towards 1165 early next week