S&P 500 E-mini Futures 24th Novemver 2012

S&P Weekly cycles

S&P has risen up from the November low and back into the November 50% level @ 1407.50

Next Week's trading is based on whether the trend continues with Friday's pattern and extends up into Next week's highs @ 1438

or remains below 1410 and revisits the Weekly 50% level @ 1381.50 (support)

S&P 500 E-mini Futures 17 November 2012

S&P 500 Monthly & Weekly cycles

Monthly cycles are showing potential further weakness, as it is trading below the 4th Quarterly Support levels @ 1374.50

whilst the November lows are supporting the trend @ 1346.50., after following last week's break-n-extend pattern

Next Week's trading is simply based on the Weekly level @ 1364...

as to whether it can rise back towards the Weekly 50% level

or continue to butt its head against 1374.50 (4th Quarter) and potentially move down into next week's lows @ 1332.

S&P 500 E-mini Futures 10th November 2012

S&P Monthly and Weekly cycles

The S&P has finally reached it's Quarterly 50% level, which is seen as a major support zone...

Therefore if the market is going to rise, then it needs to begin to trade back above 1382/86

The only short-term pattern that doesn't reflex support is the Weekly close below the Weekly lows @ 1386

This could result in a continuation of the break-n-extend pattern towards next week's lows @ 1356.

S&P 500 E-mini Futures 3rd November 2012

S&P Monthly & Weekly cycles

Trend bias is down, with the first support level @ 1386, that could lead to a 1-3 day rise.

There could be further gains, but that will depend on the patterns in the Daily cycles

However,  a move down into the 4th Quarterly 50% level @ 1375 is expected...

S&P 500 E-mini Futures 27th October 2012

S&P Monthly & Weekly cycles

Monthly Cycle support @ 1401.50

However, there's a weekly close below the Weekly lows @ 1410.50 that can often extend lower towards next week's lows @ 1388...

and then drifts down into the 4th Quarterly 50% level @ 1375 (SUPPORT)

therefore the trend is defined by next week's level @ 1409 for the next 5-days.

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