S&P (e-mini) 19th March 2011 Weekly

#2) If the Market closes below the March 50% level and Yearly highs @ 1300, then there is a possible reversal trend towards lower support.

If #2 occurs then we could see the market trading back around
1210

S&P Monthly and Weekly

Breakout pattern was confirmed last week, however the first target of 1229.75 wasn't reached.

We currently have the S&P in a breakout pattern, and I would continue to look for more weakness towards the first target...and as low as 1202-1210.

Next Week:- the trend guide is simply based on the Weekly level @ 1271.50

My view is that the trend will continue down...

however, the S&P could swing back towards the Weekly 50% level and retest the 2011 highs @ 1300.

At this stage I'd be surprised to see the S&P above 1300 for the rest of the current month of March