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.
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