S&P 500 E-mini futures 29th June 2013 Weekly Report

S&P Primary & Weekly cycles

As noted in the last report, the Weekly 50% level is helping drive the short-term patterns, with a trend bias to move towards the Support levels in the Primary cycles:- 1504-1524

The Market remains above the 2013 highs, therefore the Primary cycles remain bullish, and current price action is seen as a pull back into Support, with the expectation it's going to continue higher into 2014.

Therefore, next week's 50% level will define whether the trend continues down, or not

S&P 500 E-mini futures 8th June 2013 Weekly Report

S&P Monthly & Weekly cycles

S&P holding Monthly cycle support:- 5-day range pattern..

At this stage it looks like the trend remains bullish.

However, a sell off from the Weekly 50% level next week resulting in a break of Support is a bearish sign for a move towards the 3-month lows :- 1520  to 1496