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)

S&P 500 E-mini Futures 16th April 2017 Report

S&P 500 Primary & Weekly Cycles

The most robust patterns for it going higher is... 

2. moves quickly down in the 1st week of April and finds support off the Weekly lows  (PREVIOUS REPORT)

Early weakness at the start of April saw the S&P move down into the Weekly lows and continue higher.

Target is the 2016 highs @ 2145, but you could see some resistance around 2103 and a retest of the 2016 50% level before it continues higher.

S&P 500 E-mini Futures 27th March 2016

S&P 500 Primary & Weekly Cycles

 

S&P 500 reached 2006 but it didn't stop the upward trajectory, as it continues to follow the trends within the Weekly cycles and now price is consolidating above the 2016 50% level.

 

You can compare the price action in the Australian Stock Market and come to the conclusion that the trend is going to continue higher in 2016.

 

The most robust patterns for it going higher is...

 

1. remain above the Weekly 50% level as it trends up towards the April highs 2096-2113

2. moves quickly down in the 1st week of April and finds support off the Weekly lows and the April 50% level @ 1980

3. Above the 2016 Yearly 50% level

4. The Australian Market

S&P 500 E-mini Futures 28th February 2016

S&P 500 Primary & Weekly cycles

 

S&P has remained above the 2016 support levels without giving a clean indication as to whether the trend will continue higher for the rest of the year because of the lagging effect of the 'Break & Extend Pattern.

 

In the Short-tern (Next 4 weeks) keep an eye on the trends and set-ups within the Weekly cycles.

We can see in the chart of the right, the zig-zag patterns within each weekly 5-day cycle, as the market moves higher

 

Note:- If price continues up over the next 5-days price will hit the 2016 50% level, which is seen as a Robust resistance level:- 2000-2006

 

 

S&P 500 E-mini Futures 10th February 2016 part 2

S&P 500 Primary & Weekly Cycles

 

As noted in the previous report, the February 50% level would define the strength of the bounce in January. (dead cat)

 

We have another Break & Extend pattern playing out, with two possible patterns...

 

1. support around the 2016 lows for the next 6 weeks until March.

 

2. follows the break and extend pattern downward into March approx. 1740

S&P 500 E-mini Futures 1st February 2016 Monthly Report

S&P 500 Primary & Weekly Cycles

 

Hallmarks of a double bottom have played out around the 2016 lows.

 However, even though it's playing out as expected, it's not a TEXT book pattern that screams BUY the market, because these lows should be occurring in March.

Therefore, it's more of a wait and see approach, and trade on the side of the February 50% level. If these are infact robust double lows, then price will need to consolidate above the FEB 50% and then continue upwards in March using the same dynamic 50% level.

S&P 500 E-mini Futures 16th January 2016 Part 2

S&P 500 Primary & Weekly Cycles

 

Markets are now officially in a Bear Trend, and often those trends follow a 2-period cycle, and that trend is going to look for the next Primary Support zone @ 1849.

 This pattern now has all the hallmarks of forming a 'double bottom' (Previous Report)

 

When we reference price action with Dilernia Principles, we can see the Weekly Break-n-Extend Pattern taking it from last week's breakout @ 1988 down into this Week's low @ 1857. This also completes the move down into the 2016 lows & 'double Bottom", earlier than expected.

This Hallmark 'double bottom' isn't a precise TEXT bottom that 'screams' BUY the market, because any buying that 'might' appear from next week is going to struggle to move higher than 1921, as this level will likely form Resistance for the rest of the month.

There's enough information in my book using 5-day patterns that can validate short-term counter-trend moves.