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.
