S&P 500 E-mini Futures Weekly Report 18th October 2014

Primary trend continues to remain stable, as it head up towards the 2014 highs. I would being to off load any margin positions around those highs and move to the sidelines, and wait for the next pullback in the Quarterly cycles

Previous Weekly Report

S&P 500 Primary & Secondary Cycles

 

S&P completed the Primary break & extend pattern from the 2013 highs and into the 2014 highs.

 

As noted in the previous report, the secondary ( 4-Quarter) cycles are now driving the trend downward, helped by the negative sentiment around the globe (ISIS & EBOLA).

 

This Primary cycle has just over 2 months to run into the end of the year, and I'd be surprised to see it trading back above those 2014 highs & Quarterly 50% levels around 1922 (Sell Resistance).

 

There is support in the market that can last for the next 2-weeks as market look to test resistance levels...

 

And then potential weakness occurring in November, if it begins following the 2-month wave pattern towards the lows using the 50% levels as the trend guide.