S&P 500 E-mini Futures 28 January 2015 Primary cycles

S&P 500 Primary & Weekly cycles

The S&P trading back above 1970 the bias is to remain up and follow another break and extend pattern towards the 2015 highs: January 50% level is the Support (Previous Report)

Primary Cycles suggests the S&P 500 is going to continue higher, as part of the 2014 breakout towards the 2015 highs, and as we pointed out the January 50% level was the support level and as we can see it has supported the market.

We are now coming into the end of the month and if the S&P 500 is going to continue higher, then the February 50% level (Next Week) is going to be the trend guide upwards.

Even though we can think of some many reasons why the Stock Market can reverse and move lower, technically there is nothing that suggests it will at this stage. (unless it's below the February 50% level)

READ GOLD & SILVER REPORTS

S&P E-mini Futures 1st January 2015 Primary report

S&P Primary cycles

As mentioned in the previous report, with the S&P trading back above 1970 the bias is to remain up and follow another break and extend pattern towards the 2015 highs.

Targets at 2133 (2015 highs), and potentially as high as 2177.

Once it reaches those highs we've basically trended upwards from the 2009 lows for nearly 6 years  without a major pullback, and a large number of well-known punters (ie George Soros) are already taking out large PUT option orders with the expectation that US markets will reverse.

However, as the US FED continues to print and pump money into the markets, then the bias is to continue to push upwards.

S&P Primary & Weekly cycles.

Short-term trend is defined by the Weekly 50% level @ 2032.

Whilst the January 50% level is the support zone in the current Quarter.