S&P_ New Years Eve 2012

Monthly trade pressures remain up, the time pressures are starting to turn down, now til 3-29.

Weekly is in the correction down, need a trade above 1432 to get back into the uptrend.

The Daily trade is touching the long entry price at 1409. the next target up is 1453.

[President Obama is about to speak – only one side speaking is negative, a joint press conference will be the one]
so a pull back and second time thru 1409 ought to prove up this up-move.

daily trade pressures are extended to the downside, setting up the possibility of a rally.

a failure below the 1383 lows would signal the next down target of 1367.