S&P500 E-mini Futures 16th MARCH 2013

S&P Monthly & Weekly cycles

MARCH highs @ 1567 could form resistance, but more than likely continue towards new highs in April.

Any weakness in the latter half of this month and the close of the 1st Quarter & 1533 is seen as Support

S&P 500 9th March 2013 Weekly Reports

S&P Weekly cycles

S&P completes the March high target @ 1548.

There's a breakout of the Weekly highs @ 1533 and often that can extend up into next week's highs @ 1564....

However, there's a Friday high pattern and if it's below 1548, then there's a short-term (2-day) pull-back into 1533/34

1533/34 is seen as a multi-day Support level.

S&P 500 E-mini futures 2nd March 2013

SPI Monthly & Weekly cycles

S&P continues to remain in an upward trend:- Target March highs.

We saw a break of the Weekly lows earlier this week, but it didn’t precisely hit my downward target of 1474, but as we can see, it has quickly resumed its upward trend.

What we also notice is that the past 4 weeks price has struggled to break the random Resistance zone around 1520, but that's now pushed up into 1533 in March

Therefore there is still the possibility that there’s downward pressure towards 1474, which is now matched with the MARCH 50% level, and then continue up into the MARCH & then the April highs

1474 is seen as Support

S&P 500 E-mini Futures 24th February 2013

S&P Weekly cycles

Breakout of the January highs completed the break-n-extend pattern in the February highs @ 1530

Current price action and Support around the Weekly lows on Thursday now sets up the S&P to continue to move upwards and follow the montlhy cycles in March:- higher highs.

There is a random resistance level around 1521, and if it fails to break that level for the next 5-days, then early in March there could be a short & swift move down into 1474, as part of retesting the January highs...

and then the trend should continue to move upwards for the rest of 2013.

S&P 500 E-mini Futures 16th February 2013

S&P 500 Monthly & Weekly cycles

S&P trading around Random Resistance @ 1520....

I still have the view that it will retest the trailing Support:- first target Weekly lows...

but anything above 1520 next week and it will continue to climb towards the February highs @ 1531-1557 

S&P 500 9th February 2013 Weekly Report

Monthly & Weekly cycles

Random Resistance around 1520/21

with the Expectation that US markets will retest the January high breakouts, which are matched with the Weekly lows (1474/81) Support

S&P 500 E-mini Futures 3rd January 2013

S&P Monthly & Weekly cycles

My view last week was for the market to move back down into the 5-day lows and then continue towards the February highs.

The S&P formed resistance early in the week, but it failed to reach those 5-day lows even after not-so-great Job numbers on Friday

If it  does continue to trend up towards the February highs @ 1530-1557, it will need to move above the random Resistance zone @1520

Whilst trailing 1st Quarter Support is @ 1455