S&P 500 E-mini Futures 3rd January 2013

S&P Monthly & Weekly cycles

My view last week was for the market to move back down into the 5-day lows and then continue towards the February highs.

The S&P formed resistance early in the week, but it failed to reach those 5-day lows even after not-so-great Job numbers on Friday

If it  does continue to trend up towards the February highs @ 1530-1557, it will need to move above the random Resistance zone @1520

Whilst trailing 1st Quarter Support is @ 1455