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)