S&P 500 E-mini futures 7th January 2012

S&P Weekly Cycles

Primary range remains Bullish, as per previous Weekly Report.

We have a December 50% level support pattern, which often suggests an extension upwards in the current month.

Target January highs @ 1314.

If the market follows the Weekly cycles upwards, then it might take a number of weeks to reach its target.

As long as it remains above 1270