S&P 500 20th October 2012 Weekly Report

S&P 500 Monthly & Weekly cycles

Whilst the S&P remains above the October 50% level @ 1416.50 the trend bias remains stable even with Friday's price action.

There wasn't a breakout of Friday's lows within the Daily cycle to suggest there's going to be more weakness on Monday...

Therefore the Weekly level @ 1420.25 comes into play as 'Random Support'

S&P 500 E-mini Futures 13th October 2012

S&P Monthly and Weekly cycles

As noted in last week's report, the S&P began with a 2-day reversal helped by the price cycles in the Daily chart on Tuesday

that resulted in a 5-day breakout and expectation that it would continue lower on Wednesday.

Next Week:- There is random Support around the October 50% levels

with long term support @ 1374.50

S&P 500 E-mini Futures 6th October 2012

S&P Monthly and Weekly cycles

S&P didn't move down into the Weekly lows, instead remaining within the Weekly cycles, helped by Wednesday's close above the Weekly 50% level @ 1446

Next Week could once again begin with a 2-day reversal pattern, where the Weekly 50% level comes into play...as to whether the S&P 500 follows the monthly cycles up towards 1482/85 & beyond.

or Not

S&P 500 E-mini Futures 29th September 2012

My view is that the S&P will once again begin next week with a 2-day reversal pattern (unless it opens above 1460)...and if that 2nd day closes below the Weekly 50% level (random Support), the rest of the week could be moving in the same direction (DOWN) ....

S&P Monthly & Weekly cycles

the S&P did come under pressure during the first 2-days lows week, and it's starting next week below the Weekly 50% level @ 1446.

Therefore there's an expectation that the trend is moving down into the Weekly lows and October 50% level @ 1409.58 (random Support)

and then the Daily cycles within the Premium Report will provide the set-ups to trade any view that I espouse (subscribe to the Premium report for $50 per month)

S&P 500 E-mini Futures 22nd Sepember 2012

S&P Monthly and Weekly cycles

These monthly highs can now form resistance @ 1464 (December futures), and result in next week starting with a 2-day reversal pattern back down towards 1445 (previous Weekly Report

Last week we saw the December futures reverse down from 1464 and retest 1445, which formed Support.

This price action will often see the trend continue to move higher, helped by Friday's close. However Friday didn't close higher, and instead of moving upwards in the last week of the month and continuing higher into October, next week could come under pressure once again.

My view is that the S&P will once again begin next week with a 2-day reversal pattern (unless it opens above 1460)...and if that 2nd day closes below the Weekly 50% level (random Support), the rest of the week could be moving in the same direction (DOWN)

S&P 500 E-mini Futures 15th September 2012

S&P monthly and Weekly cycles

As per previous Weekly report, the trend bias was up into the September highs...

after retesting the Weekly high breakout @ 1423 early in the Week (support)

These monthly highs can now form resistance @ 1464 (December futures), and result in next week starting with a 2-day reversal pattern back down towards 1445

However, if above 1464, the trend is following the break-n-extend pattern up into next week's highs @ 1485

S&P 500 E-mini Futures 8th Sept 2012 Weekly Report

S&P Monthly and Weekly cycles.

S&P is likely to continue up into the September highs @ 1445 (resistance)

However, don't be surprised to see early weakness, as part of retesting last week's breakout @ 1423 before ti continues up into 1445

Therefore:- 1423/27 is seen as early Support

Whilst there are two resistance levels during September 1445 & 1464