S&P 500 E-mini Futures 17th March 2012 Weekly report.

Whenever the market reverses down after a 2-month upward trend (January & February), but then reverses down to test trailing Support (Weekly lows)...


the trend will often continue to move up towards the monthly highs, and then proceed to new highs in the 2nd Quarter (April). This is what I call a text book pattern. (Principle)   (Previous Weekly report)

S&P Weekly cycles

2-day reversal pattern started & completed early last week, with the Weekly 50% level @ 1360.50 providing support for a move towards the March highs @ 1402...

and any further gains in April could be as high as 1426.

Next Week:- there is a breakout of the Weekly cycles that could extend up into next week's highs @ 1410.25 (Resistance)...

And the ideal pattern would be a retest of last week's breakout which matches the Weekly levels (1382-85)

1382-85 is seen as support

S&P 500 E-mini futures 10th March 2012 Weekly Report

I still have view that there could be a move downward, before it continues higher...

Therefore the levels to keep an eye on are:- 1369.50, the Weekly 50% level @ 1357.50, and lastly the Weekly lows (random support)..... Previous Weekly report

S&P 500 Weekly cycles

This week saw the S&P moved down into the Weekly lows, test the trailing Support levels @ 1338.50...

and then move towards a higher Weekly close by Friday.

Principles:- Whenever the market reverses down after a 2-month upward trend (January & February), but then reverses down to test trailing Support (Weekly lows)...

the trend will often continue to move up towards the monthly highs, and then proceed to new highs in the 2nd Quarter (April). This is what I call a text book pattern. (Principle)

Next Week:- trend guide is once again the Weekly level @ 1374.50

Random resistance @ 1384, but with the possibility that in the last week of the month the trend continues to move higher.

And lastly, anything below 1374.50, as part of a Friday' 5-day high resistance, is seen as a 2-day reversal pattern to start the week...

and then from Wednesday onwards, using the daily cycle patterns, we look to see whether the trend will push up towards 1384 by Friday next week.

S&P 500 E-mini Futures 3rd March 2012 Weekly Report

S&P Monthly & Weekly cycles

S&P can continue to move up towards the MARCH highs, however, I have a robust resistance zone around 1382-84 next week.

The move up into that level will be determined by the Weekly level @ 1369.75

I mentioned this in last week's report....

the market may continue to consolidate above 1349 until the end of February...

if price reaches 1384 in the first 3-days next week, but then begins trading below 1361.50 from Thursday onwards, there could be a push downward towards the Weekly lows and beyond. (breakout).....

as part of a rotation towards the March 50% level.
Even though the market hasn't reached 1384, I still have view that there could be a move downward, before it continues higher...

Therefore the levels to keep an eye on are:- 1369.50, the Weekly 50% level @ 1357.50, and lastly anything below the Weekly lows (random support) is open to RISK of moving down towards 1311-13
Patterns in the 5-day cycles will hopefully provide set-ups that will take advantage of any potential weakness in the first week of March (next Week)

S&P 500 E-mini futures 25th February 2012

The rest of this month is now based on 1352-54

 if below my view remains intact, of the market rotating downward...


but whilst above, the market could be following the monthly cycle up towards 1396, by the end of the February, early March

S&P Monthly and Weekly cycles

Thursday's low matched the support levels @ 1352 and because of this, the expectation is that the trend is moving up towards 1396 and the March highs.

That expectation is valid as long as it remains above the Weekly level @ 1361.50

if below 1361.50 then the Weekly 50% level comes into play @ 1349.

Basically, the market may continue to consolidate above 1349 until the end of February ( next Wednesday)

There are two patterns to keep an eye on next week:-

Support @ 1349

and 1384 (2012 Yearly highs)

if price reaches 1384 in the first 3-days next week, but then begins trading below 1361.50 from Thursday onwards, there could be a push downward towards the Weekly lows and beyond. (breakout).....

as part of a rotation towards the March 50% level.

S&P 500 E-mini futures 18th February 2012

S&P Monthly and Weekly cycles

My view last week was that 1352-54 would act as resistance and continue down towards the Weekly lows over the coming weeks.

Everything looked like it was going to play out accordingly when Wednesday closed below the Weekly level @ 1342.50

However, positive US Jobs & housing reports on Thursday sent the S&P back towards the Weekly highs.

The rest of this month is now based on 1352-54

if below my view remains intact, of the market rotating downward...

but whilst above, the market could be following the monthly cycle up towards 1396, by the end of the February, early March.

S&P 500 E-mini Futures 11th February 2012

Once it reaches the February highs it will complete the Monthly cycle wave patterns, therefore I would begin to look for pullbacks longer in length to around the Trailing Weekly lows.



Any reversal patterns will only be confirmed by price moving back inside the Weekly levels, and that might not happen until the 3rd Week in February.

S&P Weekly cycles

2-month wave pattern complete at the February highs (resistance) 1352

My view is that it will try and unwind down towards the Weekly lows over the next few weeks.

if I'm right it should remain within the weekly levels (Below 1342.50).....

otherwise it can continue to push up towards the Weekly highs 1358.

S&P 500 E-mini 4th February 2012 Weekly Report

Monthly & Weekly cycles

2-month wave pattern into the February highs will complete next week after finding support at this week's 50% level @ 1298

The current price action started from the December 50% level in the 4th Quarter of 2011, and has now reached the first quarter highs:-  break and extend patterns.

Once it reaches the February highs it will complete the Monthly cycle wave patterns, therefore I would begin to look for  pullbacks longer in length to around the Trailing Weekly lows.

Any reversal patterns will only be confirmed by price moving back inside the Weekly levels, and that might not happen  until the 3rd Week in February.