S&P 500 E-mini Futures 27th October 2012

S&P Monthly & Weekly cycles

Monthly Cycle support @ 1401.50

However, there's a weekly close below the Weekly lows @ 1410.50 that can often extend lower towards next week's lows @ 1388...

and then drifts down into the 4th Quarterly 50% level @ 1375 (SUPPORT)

therefore the trend is defined by next week's level @ 1409 for the next 5-days.

S&P 500 20th October 2012 Weekly Report

S&P 500 Monthly & Weekly cycles

Whilst the S&P remains above the October 50% level @ 1416.50 the trend bias remains stable even with Friday's price action.

There wasn't a breakout of Friday's lows within the Daily cycle to suggest there's going to be more weakness on Monday...

Therefore the Weekly level @ 1420.25 comes into play as 'Random Support'

S&P 500 E-mini Futures 13th October 2012

S&P Monthly and Weekly cycles

As noted in last week's report, the S&P began with a 2-day reversal helped by the price cycles in the Daily chart on Tuesday

that resulted in a 5-day breakout and expectation that it would continue lower on Wednesday.

Next Week:- There is random Support around the October 50% levels

with long term support @ 1374.50

S&P 500 E-mini Futures 6th October 2012

S&P Monthly and Weekly cycles

S&P didn't move down into the Weekly lows, instead remaining within the Weekly cycles, helped by Wednesday's close above the Weekly 50% level @ 1446

Next Week could once again begin with a 2-day reversal pattern, where the Weekly 50% level comes into play...as to whether the S&P 500 follows the monthly cycles up towards 1482/85 & beyond.

or Not