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)
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