S&P 500 E-mini Futures 24th December 2013

Primary & Monthly cycles

The S&P didn't precisely hit the support level @1749, but it nevertheless continues to follow the Primary Break-n-Extend pattern towards the 2014 highs, as part of Dilernia Principle from the 2013 highs.

For those trading the Primary trend, especially on Margin, I would begin to offload long positions around the 2014 highs/ January highs in the new year.

And then look for the forward trailing support levels within each Quarterly timeframe to move back in.

S&P 550 E-mini Futures 12th December 2013

S&P Primary & Monthly cycles

 The October 50% level support, as part of a 2-month wave pattern will complete around the November highs. This is a shorter pattern as part of the current 4th Quarter.

Therefore around November highs is a random Resistance zone in the current cycle (Previous Report)

As we can see the November highs have formed resistance and the cycles suggests that the trend will continue down into Support levels around 1749.

Long term trend bias is to continue towards the 2014 highs, as part of the 2013 Primary breakout.

Short-term support 1749 in the 4th Quarter.

Long term support in the 1st Quarter is 1665