S&P 500 31st December 2011 Weekly report

Primary and Weekly cycles

New Primary cycle begins next week, and the S&P 500 will start the year above the year 50% level @ 1235.75.

That's a good sign to begin with.

As long as the S&P 500 doesn't break the Weekly lows and monthly 50% levels  (1203) early in the new year the trend remains stable with an UPWARD bias.

4th Quarter 50% level @ 1274.50 that has formed resistance over the past 3-months has disappeared, and has dynamically moved to a support zone  for the 1st quarter.

In conclusion:- Weekly 50% level and primary cycles 50% levels and seen as robust support zones at the start of next week. (1235.75)

S&P 500 E-mini Futures 24th December 2011

S&P Primary and Weekly cycles

December 50% level Support, and once above the Weekly 50% level @ 1231.50 the trend bias was to close higher.

Short-term the trend is likely to move towards 1274.50 once again.

However, any weakness next week, and the important pattern to keep an eye on it the new Primary 50% level for 2012.

Next Week:- Weekly level @ 1264 is the trend guide on whether the market closes higher.

or closes near the Weekly 50% level, which aligns with the 2012 Yearly 50% level from the 1st of January.

S&P 500 E-mini futures 17th December 2011 Weekly report

S&P Monthly and Weekly

S&P remains stable, as the December 50% level continues to support the trend,

and may continue to do so until the end of this Year.

Weekly levels are the Trend guides for next week

However, coming into the end of the Year and then next Primary cycles appears....(Chart below)

S&P 500 Primary cycle

 The 2012 Yearly 50% level and 1st quarter 50% level is the

 trend guide on whether the trend continues down into the 2012 Yearly lows

S&P 500 E-mini 10th December 2011 Weekly report

S&P Monthly and Weekly

1274.50 could continue to act as resistance until the end of this year.

Weekly 50% level remains the trend guide and random support.

If that's the case, then markets will continue to consolidate and rotate within the 5-day range using intra-day filtering techniques of 8.5 to 14 point ranges.

The next major trend won't develop until the start of 2012, when the new 2012 Yearly 50% level comes into play.. (Chart Below)

S&P Primary Cycle

S&P 500 E-mini 3rd December 2011 Weekly report

A breakout of the Weekly lows will normally extend towards next week's lows @ 1128 (random support)

1189-1196 resistance  (Previous Weekly Report)

                                                   S&P Weekly and Daily

The S&P didn't remain below resistance levels, as positive news came out on funding for European Banks.

This saw the S&P 500 rally into the Weekly highs, and we are back to my original view of markets remaining consolidating within the 4th Quarter.

Next Week:- could continue towards next week's highs, and back towards 1274.50 (Resistance)...

But because of Friday's 5-day high reversal pattern my view is that....

that the market is heading back towards the Weekly 50% level...

and as far as the December 50% level sometime this month (Random Support)

Trend guide 1249.50