S&P Weekly cycles
Breakout of the January highs completed the break-n-extend pattern in the February highs @ 1530
Current price action and Support around the Weekly lows on Thursday now sets up the S&P to continue to move upwards and follow the montlhy cycles in March:- higher highs.
There is a random resistance level around 1521, and if it fails to break that level for the next 5-days, then early in March there could be a short & swift move down into 1474, as part of retesting the January highs...
and then the trend should continue to move upwards for the rest of 2013.
