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:-