S&P 500 E-mini Futures 8th MAY 2016 Monthly Report

S&P 500 Primary & Weekly Cycle

You could see some resistance around 2103 and a retest of the 2016 50% level before it continues higher. (Previous Report)

The target of 2103 just fell short, but we can see some weakness in US markets as it remains within the Weekly cycles.

It may remain within the weekly cycles as it slowly unwinds, as the expectation for the trend to continue higher it needs to retest the 2016 50% level.

However, also keep an eye on this week's lows @ 2024, as this could set up a move towards the MAY highs. (less likely but could happen)