S&P 500 Market Weekly Report: December 2012

S&P 500 Monthly & Weekly cycles

Two support levels for next week...

The first comes in around 1373/1374.50 for a minimum move of 14 points upwards..

Whilst the January 50% level is likely to form early resistance...

from there onwards the new 2013 Yearly 50% level comes into play around 1380

and that will decide whether the Primary trend remains up or not.

S&P Monthly & Week cycles

flash crash on Thursday, but the market remains above the December 50% level...

As noted in last week's report, the market looks like its consolidating into the end of the year and the start of 2013

Weekly 50% level is the trend guide @ 1417.75

S&P 500 Monthly & Weekly cycles

S&P 500 trend guide remains defined by the December 50% level @ 1410.25...

And by looking at the price action, US markets seem to be consolidating into the end of 2012 & the start of 2013.

Next 5-days is short-term price action within the Daily cycles, as per Daily report

SPI Monthly & Weekly cycles

S&P has remained stable without moving UP towards 1442...

I still have that view that the S&P will make its way towards 1442 by the end of the year...

therefore 1418 is the trend guide for next week...

but a random daily resistance around the Weekly highs @ 1432

S&P 500 Monthly & Weekly cycles

I would have to think that the S&P is going to continue higher or at least remain stable into the start of 2013.

Support resides around the December 50% level @ 1410.25

target 1442, which can act as resistance for a number of days

S&P 500 Market Weekly Report