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
