S&P 500 E-mini Futures 14th July 2012

S&P 500 Monthly and Weekly cycles

Primary trend remain bullish in the S&P, as long as its trading above the Quarterly 50% levels; 3rd Quarter @ 1303.50

However, the current price action suggest more sideways zig-zag patterns within the Weekly levels...

and we should then look for the possibility of a last week of July upward move, as price extends towards the August (RED Monthly level), and then more consolidation after that.