S&P 1025.50 Friday close

Long term –
monthly is at the 1025 target. weekly has traded thru the confluence of the 1019 38% retracement and a 1017 target. expect consolidation and retracement here. next weekly target 1053. a trade down thru 831 will start a down move to 634. Buying pressures remain extended up.

daily –
traded thru the 1011 target bringing 1046 into play. the short correction this week has cured some of the overbot condition which may help the move up to 1046 early in the next week. a move down thru 957 will start a new down move to 867.

intraday –
Monday, a move down thru 1016 should start a correction to 1001. we moved 28 points low to high on friday, so be careful of these short term trades. targets don’t mean much if you are inside the normal volatility.