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.
