S&P 500 E-mini Futures 29th December 2012

S&P 500 Monthly & Weekly cycles

Two support levels for next week...

The first comes in around 1373/1374.50 for a minimum move of 14 points upwards..

Whilst the January 50% level is likely to form early resistance...

from there onwards the new 2013 Yearly 50% level comes into play around 1380

and that will decide whether the Primary trend remains up or not.

S&P 500 e-mini futures 22nd December 2012

S&P Monthly & Week cycles

flash crash on Thursday, but the market remains above the December 50% level...

As noted in last week's report, the market looks like its consolidating into the end of the year and the start of 2013

Weekly 50% level is the trend guide @ 1417.75

S&P 500 15th December 2012 Weekly Report

S&P 500 Monthly & Weekly cycles

S&P 500 trend guide remains defined by the December 50% level @ 1410.25...

And by looking at the price action, US markets seem to be consolidating into the end of 2012 & the start of 2013.

Next 5-days is short-term price action within the Daily cycles, as per Daily report

S&P 500 E-mini Futures 8th December 2012

SPI Monthly & Weekly cycles

S&P has remained stable without moving UP towards 1442...

I still have that view that the S&P will make its way towards 1442 by the end of the year...

therefore 1418 is the trend guide for next week...

 but a random daily resistance around the Weekly highs @ 1432

S&P 500 E-mini Futures 1st December 2012

S&P 500 Monthly & Weekly cycles

I would have to think that the S&P is going to continue higher or at least remain stable into the start of 2013.

Support resides around the December 50% level @ 1410.25

target 1442, which can act as resistance for a number of days

S&P 500 E-mini Futures 24th Novemver 2012

S&P Weekly cycles

S&P has risen up from the November low and back into the November 50% level @ 1407.50

Next Week's trading is based on whether the trend continues with Friday's pattern and extends up into Next week's highs @ 1438

or remains below 1410 and revisits the Weekly 50% level @ 1381.50 (support)

S&P 500 E-mini Futures 17 November 2012

S&P 500 Monthly & Weekly cycles

Monthly cycles are showing potential further weakness, as it is trading below the 4th Quarterly Support levels @ 1374.50

whilst the November lows are supporting the trend @ 1346.50., after following last week's break-n-extend pattern

Next Week's trading is simply based on the Weekly level @ 1364...

as to whether it can rise back towards the Weekly 50% level

or continue to butt its head against 1374.50 (4th Quarter) and potentially move down into next week's lows @ 1332.

S&P 500 E-mini Futures 10th November 2012

S&P Monthly and Weekly cycles

The S&P has finally reached it's Quarterly 50% level, which is seen as a major support zone...

Therefore if the market is going to rise, then it needs to begin to trade back above 1382/86

The only short-term pattern that doesn't reflex support is the Weekly close below the Weekly lows @ 1386

This could result in a continuation of the break-n-extend pattern towards next week's lows @ 1356.

S&P 500 E-mini Futures 3rd November 2012

S&P Monthly & Weekly cycles

Trend bias is down, with the first support level @ 1386, that could lead to a 1-3 day rise.

There could be further gains, but that will depend on the patterns in the Daily cycles

However,  a move down into the 4th Quarterly 50% level @ 1375 is expected...

S&P 500 E-mini Futures 27th October 2012

S&P Monthly & Weekly cycles

Monthly Cycle support @ 1401.50

However, there's a weekly close below the Weekly lows @ 1410.50 that can often extend lower towards next week's lows @ 1388...

and then drifts down into the 4th Quarterly 50% level @ 1375 (SUPPORT)

therefore the trend is defined by next week's level @ 1409 for the next 5-days.

S&P 500 20th October 2012 Weekly Report

S&P 500 Monthly & Weekly cycles

Whilst the S&P remains above the October 50% level @ 1416.50 the trend bias remains stable even with Friday's price action.

There wasn't a breakout of Friday's lows within the Daily cycle to suggest there's going to be more weakness on Monday...

Therefore the Weekly level @ 1420.25 comes into play as 'Random Support'

S&P 500 E-mini Futures 13th October 2012

S&P Monthly and Weekly cycles

As noted in last week's report, the S&P began with a 2-day reversal helped by the price cycles in the Daily chart on Tuesday

that resulted in a 5-day breakout and expectation that it would continue lower on Wednesday.

Next Week:- There is random Support around the October 50% levels

with long term support @ 1374.50

S&P 500 E-mini Futures 6th October 2012

S&P Monthly and Weekly cycles

S&P didn't move down into the Weekly lows, instead remaining within the Weekly cycles, helped by Wednesday's close above the Weekly 50% level @ 1446

Next Week could once again begin with a 2-day reversal pattern, where the Weekly 50% level comes into play...as to whether the S&P 500 follows the monthly cycles up towards 1482/85 & beyond.

or Not

S&P 500 E-mini Futures 29th September 2012

My view is that the S&P will once again begin next week with a 2-day reversal pattern (unless it opens above 1460)...and if that 2nd day closes below the Weekly 50% level (random Support), the rest of the week could be moving in the same direction (DOWN) ....

S&P Monthly & Weekly cycles

the S&P did come under pressure during the first 2-days lows week, and it's starting next week below the Weekly 50% level @ 1446.

Therefore there's an expectation that the trend is moving down into the Weekly lows and October 50% level @ 1409.58 (random Support)

and then the Daily cycles within the Premium Report will provide the set-ups to trade any view that I espouse (subscribe to the Premium report for $50 per month)

S&P 500 E-mini Futures 22nd Sepember 2012

S&P Monthly and Weekly cycles

These monthly highs can now form resistance @ 1464 (December futures), and result in next week starting with a 2-day reversal pattern back down towards 1445 (previous Weekly Report

Last week we saw the December futures reverse down from 1464 and retest 1445, which formed Support.

This price action will often see the trend continue to move higher, helped by Friday's close. However Friday didn't close higher, and instead of moving upwards in the last week of the month and continuing higher into October, next week could come under pressure once again.

My view is that the S&P will once again begin next week with a 2-day reversal pattern (unless it opens above 1460)...and if that 2nd day closes below the Weekly 50% level (random Support), the rest of the week could be moving in the same direction (DOWN)

S&P 500 E-mini Futures 15th September 2012

S&P monthly and Weekly cycles

As per previous Weekly report, the trend bias was up into the September highs...

after retesting the Weekly high breakout @ 1423 early in the Week (support)

These monthly highs can now form resistance @ 1464 (December futures), and result in next week starting with a 2-day reversal pattern back down towards 1445

However, if above 1464, the trend is following the break-n-extend pattern up into next week's highs @ 1485

S&P 500 E-mini Futures 8th Sept 2012 Weekly Report

S&P Monthly and Weekly cycles.

S&P is likely to continue up into the September highs @ 1445 (resistance)

However, don't be surprised to see early weakness, as part of retesting last week's breakout @ 1423 before ti continues up into 1445

Therefore:- 1423/27 is seen as early Support

Whilst there are two resistance levels during September 1445 & 1464

S&P 500 (emini futures) 1st September 2012

S&P Monthly and Weekly cycles

As noted in the previous Weekly reports, around 1420-24 there is a ton of resistance.

That resistance has slightly been altered with the shift in the September highs upwards..

However, there is still the potential for the S&P to rotate down towards the Weekly lows & also 1387...

Trend guide is simply the Weekly 50% level @ 1407...

whilst critical support remains around 1387/92

anything below that and September will be following a monthly break and extend pattern downward into October (MAJOR SUPPORT 1303.50)

S&P 500 E-mini Futures 25th August 2012

S&P Monthly and Weekly cycles.

The S&P 500 is hitting a ton of resistance around these upper levels @ 1420-1424.

Not only is it the monthly highs in August, but it's also the 2012 Yearly highs, which have acted as resistance twice this year already.

There are two patterns at play based on these levels continuing to act as resistance

#1) follows an orderly pattern and rotates downward into September.

#2) tightening of the Weekly cycles, could lead to a large break & extend pattern back down towards the 3rd Quarterly 50% level...

Therefore the trend remains stable above the Weekly 50% level @ 1403...

below that same level, and look for daily closes below the Weekly lows @ 1388.75, and hopefully sellers hit the S&P Hard

Note:- I could be wrong and the Weekly 50% level supports the S&P and sends it higher in September.

S&P 500 E-mini Futures 18th August 2012

S&P Monthly and Weekly cycles..

August highs is the target for this month, which is seen as random resistance.

However, there's the expectation that the S&P will make slightly higher highs in September.

S&P 500 E-mini Futures 11th August 2012

S&P monthly and Weekly cycles

As noted in last week's report, random resistance was around 1401, and as we can see the market stalled around that level.

Next Week:- 1349 will determine whether the trend continues higher:- August highs...

or rotates back towards the Weekly 50% level

S&P 500 E-mini Futures 4th August 2012

S&P Monthly and Weekly cycles

S&P has continued upwards, but only after it moved down into the Weekly and monthly 50% levels @ 1349

Trend bias is up towards the August highs.

However, my view is that around 1401 will form a random resistance zone

S&P 500 E-mini Futures 28th July 2012

S&P 500 Monthly and Weekly cycles.

Weekly low support @ 1323 has resulted in a weekly close above 1375.

My view is that the S&P 500 will continue to trend upwards for the next 5-days, and then push higher into the august highs.

Note:- If Monday opens much higher, and reaches the Weekly highs @ 1395 in early trading, then this can often provide traders with a short-term 'sell' pattern of 14 points

1375 will then be seen as Support for the rest of next Week

S&P 500 E-mini Futures 21st July 2012

S&P 500 Monthly and Weekly cycles

Next Week's 50% level (Support), will determine whether the trend continue upwards for the next 2-weeks into the August highs...

Which will likely stall the market once again.

S&P 500 E-mini Futures 14th July 2012

S&P 500 Monthly and Weekly cycles

Primary trend remain bullish in the S&P, as long as its trading above the Quarterly 50% levels; 3rd Quarter @ 1303.50

However, the current price action suggest more sideways zig-zag patterns within the Weekly levels...

and we should then look for the possibility of a last week of July upward move, as price extends towards the August (RED Monthly level), and then more consolidation after that.

S&P 500 E-mini Futures 7th July 2012

S&P Monthly and Weekly cycles

July 50% level Support on Friday @ 1346 could see the trend continue upwards until August/ September.

However, if the S&P 500 is trading below next week's 50% level @ 1342..

Then the trend bias is to re-visit the 3rd quarterly 50% level @ 1303.50

S&P 500 E-mini Futures 30th June 2012

1354 acted as resistance... as price goes searching for the 3rd Quarterly 50% level @ 1300

That level (1300)  from the first of July is critical as the trend is either going to rise upwards once again..( or not)

S&P Monthly and Weekly cycles

1354 ended up pushing the S&P back down into 1300, which has resulted in the trend rising upwards once again, 5-days eariler than expected.

Next Week:- Whilst price is above the July 50% level, the trend bias is UP.

1375 is seen as random resistance.

if below 1346, the trend will go looking for the 3-Quarterly 50% level @ 1303 (support)

Anything below 1303, and the S&P will struggle to rise higher for the rest of 2012.

S&P 500 e-mini Futures 23rd June 2012

My view is that 1354/59 will act as resistance until July..

and then the 3rd quarterly 50% level comes into play (Previous Weekly Report)

S&P 500 Monthly & Weekly Cycles

1354 acted as resistance and pushed the trend back down...

as it goes searching for the 3rd Quarterly 50% level @ 1300

That level from the first of July is critical as the trend is either going to rise upwards once again..

or not

Next Week's 50% level comes into play @ 1320

along with the high probability set-ups within the daily cycle range, as to whether that plays out

S&P 500 E-mini Futures 16th June 2012

S&P monthly and Weekly cycles

Price didn't reach the precise 2nd quarterly 50% level, but the 3rd quarterly 50% level comes into play from July.

In the mean time, my view is that the levels around 1354/59 will act as resistance until July.

Short-term:-

Next week's early trend is going to be dictated by the results in the Greek elections.

Either the Markets like the result, or they won't

S&P 500 E-mini Futures 9th June 2012 Weekly Report

This is matched with the June lows in the monthly cycle and also the 2nd Quarterly 50% level.

Weekly cycles :- keep an eye on price trending above 1282, this could attract buying towards the Weekly 50% level.

S&P Monthly and Weekly cycles

S&P found support in the Weekly cycles (June lows), and proceeded to move back towards the June 50% level, which is seen as resistance @ 1337.

I'd be more confident in further gains in the S&P 500 if price had already hit 1249 (2nd Quarterly 50% level).

However, if it's above 1337 next week, then the S&P is making a play for 1354.

Note:- keep an eye on the set-ups within the daily cycles (8.5 to 14 points)

S&P 500 E-mini futures 2nd June 2012

Trend bias is down into the Quarterly 50% level @ 1249

 The Trend is also part of the Break and Extend Pattern from the MAY lows into the June lows.

S&P Monthly and Weekly cycles

Trend bias is down into 1249, as part of the break and extend pattern from the MAY lows.

This is matched with the June lows in the monthly cycle and also the 2nd Quarterly 50% level.

Weekly cycles :- keep an eye on price trending above 1282, this could attract buying towards the Weekly 50% level, but only if hits the lower support levels beforehand:-

S&P 500 E-mini Futures 26th MAY 2012 Weekly Report

S&P 500 Monthly and Weekly cycles

Trend bias is down into the Quarterly 50% level @ 1249

The Trend is also part of the Break and Extend Pattern from the MAY lows into the June lows.

However, there is 1 week to go in MAY, and often price can rotate upwards into the following monthly 50% level...

and then once again rejected down into the June lows, completing the break and extend pattern :- SUPPORT @ 1249

Next Week's levels in the Weekly cycle will determine whether this is a rotation up into the June 50% levels

or the market remains below 1315.50 and continues to extend towards the Target Zone

S&P 500 E-mini Futures 19th MAY 2012 Weekly report

Primary highs in 2012 have continued to form resistance in the S&P 500 resulting in the failure of the monthly 50% levels to hold support @ 1373... and by the look of it price will try and rotate back towards the 2nd Quarterly 50% levels @ 1249

The S&P has formed a tight 5-day pattern around the random support zone. This pattern is often seen as a NO CONTROL, when the open and close of the previous 5-days is in the middle of the range...

The Question now is which way will the market break, as often after a NO Control pattern the next 5-days trends in 1 direction.

S&P Monthly and Weekly cycles

The 'No Control Pattern' has seen the trend move in one direction:- higher Weekly open into a lower Weekly close.

This has also resulted in a MAY low breakout pattern @ 1315.50, which is likely to see the trend make its way towards the 2nd Quarterly 50% levels @ 1249.

That may happen this month (next 2-weeks)...

or next week's lows @ 1270 provides a minor swing pattern, as part of retesting the MAY breakout @ 1315.50..

and then the trend continues down into 1249 during the month of JUNE.

S&P 500 E-mini Futures 12th MAY 2012

 Random Support is the area of interest for traders that believe that the S&P will continue to remain within an upward trend and consolidate.

Random support is also the area of interest for those traders that believe that the 2012 Primary cycle highs will push the trend lower, as is often the case when the month of MAY rolls around.

That move lower could be gradual, as it unwinds over the next 2-months with a downward bias into the start of the 3rd quarter.

S&P monthly and Weekly cycles

S&P has formed a tight 5-day pattern around the random support zone.

This pattern is often seen as a NO CONTROL, when the open and close of the previous 5-days is in the middle of the range...

As we can see the S&P 500 is now caught between Support and the MAY 50% level...

The Question now is which way will the market break, as often after a NO Control pattern the next 5-days trends in 1 direction.

As mentioned in last week's report...

it either rises or it gradually unwinds as it follows the Weekly cycles (lower lows):- towards the MAY lows @ 1315

Trend guide is simply based on the Weekly level @ 1350

S&P 500 E-mini Futures 5th MAY 2012

S&P 500 Primary and Weekly cycles

Primary highs in 2012 have continued to form resistance in the S&P 500...

Resulting in the Failure of the montlhy 50% levels to hold support @ 1373...

and by the look of it, will try and rotate back towards the 2nd or 3rd Quarterly 50% levels, as trailing support.

Short-term:- Random Support is the area of interest for traders that believe that the S&P will continue to remain within an upward trend and consolidate.

Random support is also the area of interest for those traders that believe that the 2012 Primary cycle highs will push the trend lower, as is often the case when the month of MAY rolls around.

That move lower could be gradual, as it unwinds over the next 2-months with a downward bias into the start of the 3rd quarter.

or it could be swift and sharp, down into 1245 (support)

S&P 500 E-mini Futures 28th April 2012

S&P Weekly cycles

April 50% level Support should in theory continue to extend up towards the Weekly highs @ 1410, and then the following Weekly highs after that. (approx 1422).

That expectation will be define by the Weekly level @ 1395

if not, then trailing support is around the MAY 50% level, matched with the Weekly level.

Trading set-ups will be found within the patterns in the Daily cycles (5-day range)

S&P 500 E-mini 21st April 2012 Weekly Reports

S&P Weekly cycles

April 50% level @ 1361 continues to Support the trend....

and coming into the last week's of the month, traders should begin to look for patterns that suggest the trend is going to move up towards the MAY highs

or the Weekly 50% level sends price down into the Weekly lows @ 1347.

Next Week's trend guide is the Weekly 50% level @ 1380

S&P 500 E-mini Futures 14th April 2012

The reversal pattern is towards the Apirl 50% level (Weekly lows).

That down move will be defined by next week's level @ 1378.50...

1361-1364 is seen as a random Support zone

However, don't be surprised to see the Trend as low as 1347 (SUPPORT)... Previous Weekly Report

S&P Weekly Cycles

1378.50 pushed the market down into the Weekly lows & the April 50% level, which formed a random support zone for the Week.

As we can see, the Weekly cycles now suggest the Trend will continue down into next week's lows, which aligns with a potential Support zone during the current Month @ 1345/47

Trend guide 1369

S&P 500 E-mini Futures 7th April 2012

my view is that the trend will push up towards the April highs, as shown in the Weekly cycles.

However, once that's completed, the trend will be begin to reverse down towards the trailing monthly 50% levels, as the first targets:- 1361. (Previous Weekly Report)

S&P 500 Weekly cycles

Sadly the S&P didn't reach the highs @ 1424-28, as this was my ideal 'short-trade' zone for the current reversal towards the April 50% level.

As noted in last week's report, the reversal pattern  is towards the Apirl 50% level (Weekly lows).

That down move will be defined by next week's level @ 1378.50...

1378.50 will also be the trend guide on any short-term counter-trend move upwards within the 5-day cycle.

1361-1364 is seen as a random Support zone

However, don't be surprised to see the Trend as low as 1347 (SUPPORT) if it begins to trade below 1361

S&P 500 E-mini Futures 31st March 2012

as part of the price action from the Weekly lows @ 1338.50, my view is that the trend will continue up towards the April highs over the next couple of weeks.

So far everything has played out precisely using 'text-book patterns, and if that continues the expectation of the trend continuing higher will be determined by next week''s level @ 1395 towards the Weekly highs @ 1415 & beyond.... Previous Weekly Report

S&P Monthly and Weekly cycles

my view is that the trend will continue to push up towards the April highs, as shown in the Weekly cycles.

However, once that's completed, US markets will be begin to reverse down towards the trailing monthly 50% levels, as the first targets:- 1361.

That would be another text book pattern, as described in the book.

Note;- if next week begins to trade down from Monday and is trading below the Weekly 50% level (5-day low breakout) the reversal pattern downward might begin earlier than hoped for.

S&P 500 E-mini Futures 24th March 2012

the ideal pattern would be a retest of last week's breakout which matches the Weekly levels (1382-85)

1382-85 is seen as support  (previous Weekly Report)

S&P Weekly Cycles

My view was that the S&P would come back and retest last week's breakout @ 1382-85 after reaching the March highs @ 1402

And as part of the price action from the Weekly lows @ 1338.50, my view is that the trend will continue up towards the April highs over the new couple of weeks.

So far everything has played out precisely using 'text-book patterns, and if that continues the expectation of the trend continuing higher will be determined by next week''s level @ 1395 towards the Weekly highs @ 1415 & beyond

therefore 1395 will define whether my view will play out....

or not, and the market rotates down over the next 5-days (lower Friday close)

S&P 500 E-mini Futures 17th March 2012 Weekly report.

Whenever the market reverses down after a 2-month upward trend (January & February), but then reverses down to test trailing Support (Weekly lows)...


the trend will often continue to move up towards the monthly highs, and then proceed to new highs in the 2nd Quarter (April). This is what I call a text book pattern. (Principle)   (Previous Weekly report)

S&P Weekly cycles

2-day reversal pattern started & completed early last week, with the Weekly 50% level @ 1360.50 providing support for a move towards the March highs @ 1402...

and any further gains in April could be as high as 1426.

Next Week:- there is a breakout of the Weekly cycles that could extend up into next week's highs @ 1410.25 (Resistance)...

And the ideal pattern would be a retest of last week's breakout which matches the Weekly levels (1382-85)

1382-85 is seen as support

S&P 500 E-mini futures 10th March 2012 Weekly Report

I still have view that there could be a move downward, before it continues higher...

Therefore the levels to keep an eye on are:- 1369.50, the Weekly 50% level @ 1357.50, and lastly the Weekly lows (random support)..... Previous Weekly report

S&P 500 Weekly cycles

This week saw the S&P moved down into the Weekly lows, test the trailing Support levels @ 1338.50...

and then move towards a higher Weekly close by Friday.

Principles:- Whenever the market reverses down after a 2-month upward trend (January & February), but then reverses down to test trailing Support (Weekly lows)...

the trend will often continue to move up towards the monthly highs, and then proceed to new highs in the 2nd Quarter (April). This is what I call a text book pattern. (Principle)

Next Week:- trend guide is once again the Weekly level @ 1374.50

Random resistance @ 1384, but with the possibility that in the last week of the month the trend continues to move higher.

And lastly, anything below 1374.50, as part of a Friday' 5-day high resistance, is seen as a 2-day reversal pattern to start the week...

and then from Wednesday onwards, using the daily cycle patterns, we look to see whether the trend will push up towards 1384 by Friday next week.

S&P 500 E-mini Futures 3rd March 2012 Weekly Report

S&P Monthly & Weekly cycles

S&P can continue to move up towards the MARCH highs, however, I have a robust resistance zone around 1382-84 next week.

The move up into that level will be determined by the Weekly level @ 1369.75

I mentioned this in last week's report....

the market may continue to consolidate above 1349 until the end of February...

if price reaches 1384 in the first 3-days next week, but then begins trading below 1361.50 from Thursday onwards, there could be a push downward towards the Weekly lows and beyond. (breakout).....

as part of a rotation towards the March 50% level.
Even though the market hasn't reached 1384, I still have view that there could be a move downward, before it continues higher...

Therefore the levels to keep an eye on are:- 1369.50, the Weekly 50% level @ 1357.50, and lastly anything below the Weekly lows (random support) is open to RISK of moving down towards 1311-13
Patterns in the 5-day cycles will hopefully provide set-ups that will take advantage of any potential weakness in the first week of March (next Week)

S&P 500 E-mini futures 25th February 2012

The rest of this month is now based on 1352-54

 if below my view remains intact, of the market rotating downward...


but whilst above, the market could be following the monthly cycle up towards 1396, by the end of the February, early March

S&P Monthly and Weekly cycles

Thursday's low matched the support levels @ 1352 and because of this, the expectation is that the trend is moving up towards 1396 and the March highs.

That expectation is valid as long as it remains above the Weekly level @ 1361.50

if below 1361.50 then the Weekly 50% level comes into play @ 1349.

Basically, the market may continue to consolidate above 1349 until the end of February ( next Wednesday)

There are two patterns to keep an eye on next week:-

Support @ 1349

and 1384 (2012 Yearly highs)

if price reaches 1384 in the first 3-days next week, but then begins trading below 1361.50 from Thursday onwards, there could be a push downward towards the Weekly lows and beyond. (breakout).....

as part of a rotation towards the March 50% level.

S&P 500 E-mini futures 18th February 2012

S&P Monthly and Weekly cycles

My view last week was that 1352-54 would act as resistance and continue down towards the Weekly lows over the coming weeks.

Everything looked like it was going to play out accordingly when Wednesday closed below the Weekly level @ 1342.50

However, positive US Jobs & housing reports on Thursday sent the S&P back towards the Weekly highs.

The rest of this month is now based on 1352-54

if below my view remains intact, of the market rotating downward...

but whilst above, the market could be following the monthly cycle up towards 1396, by the end of the February, early March.

S&P 500 E-mini Futures 11th February 2012

Once it reaches the February highs it will complete the Monthly cycle wave patterns, therefore I would begin to look for pullbacks longer in length to around the Trailing Weekly lows.



Any reversal patterns will only be confirmed by price moving back inside the Weekly levels, and that might not happen until the 3rd Week in February.

S&P Weekly cycles

2-month wave pattern complete at the February highs (resistance) 1352

My view is that it will try and unwind down towards the Weekly lows over the next few weeks.

if I'm right it should remain within the weekly levels (Below 1342.50).....

otherwise it can continue to push up towards the Weekly highs 1358.

S&P 500 E-mini 4th February 2012 Weekly Report

Monthly & Weekly cycles

2-month wave pattern into the February highs will complete next week after finding support at this week's 50% level @ 1298

The current price action started from the December 50% level in the 4th Quarter of 2011, and has now reached the first quarter highs:-  break and extend patterns.

Once it reaches the February highs it will complete the Monthly cycle wave patterns, therefore I would begin to look for  pullbacks longer in length to around the Trailing Weekly lows.

Any reversal patterns will only be confirmed by price moving back inside the Weekly levels, and that might not happen  until the 3rd Week in February.

S&P 500 E-mini futures 28th January 2012 Weekly Report

The S&P is about to hit the January highs @ 1314, as part of the extension pattern from the December 50% level :- This Monthly high is seen as resistance level.

However, there is also the single monthly breakout @ 1278 (RED), which could result in the price action extending up towards the new February highs, as part of a 2-month wave pattern during the 1st quarter.

S&P Weekly cycles

S&P is currently trading around the January highs @ 1314.

These resistance levels will disappear in  two days time, and extend up towards the February highs. (potential 2-month wave pattern during the first quarter.

In the short-term, the focus should be trading the current break out pattern from 1278.

 The completion of the Break and Extend pattern is around 1235.

Trend guide on whether price moves up or down in the first 2-3 days will be determined by the Weekly level @ 1314