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