Monthly and weekly targets are 1600-1605.
a trade down thru 1528 is the weekly short entry.

the Daily trade is down.  price is below MACD.
the Daily short entry of 1537 was tested but the close was back above.
the next trade back thru thru should set the downside in motion.

the next target down is 1489.05.

a trade above 1555 would negate this move down and reset the the 1567 target.

Monthly and Weekly –
new upside targets 1600-1605
with the old high of 1514 acting as support.

pressures remain up and trending.
the time target is 4/26 for a change in direction.

Daily-
at the 1567 target. next target up is 1623.

the time cycles are turning down.
trade pressures remain up but very extended.
last weeks low would be necessary support.

a move down thru 1538 would signal lower to 1489

S&P_

monthly targets are holding as resistance in this 1517-1526 area. next monthly target up is 1701.

the weekly target up is 1553.
the weekly short entry price of 1485 has been touched, but did not hold. still, be alert.

the daily trade is down from the 1499 short entry level.
a move back above the 1530 highs will invalidate this move, but for now it is active.
the next target down is 1451.

time pressures are up. daily trade pressures are up inside the longer downward trade pressures.
[some indication of distribution]

the multiple Monthly targets [1502,1517, 1526] are providing resistance.
monthly time pressures are down thru the end of march.

the weekly target of 1513 is providing resistance as well.
the time pressures should turn down from here into April.

the Daily trade remains up, but with signs of slowing momentum.
the next target up is 1564.

the hourly trade signal shows a bearish move down to 1505. but that is not enough to produce a new Daily short trade.
a move below 1491   1499 would be required to start a new Daily short trade.

GDP = C + I + G  + (X-M)  or,

-0.1% = 1.52% + -0.08% + -1.33% + -0.25% 

S&P_ the futures have trade up to the monthly target of 1502 and met resistance.
1513 is the next target up.

the daily has crossed into bearish pressure with the close last night of 1493.75.
will need a close above 1506 to reverse the pressures.

a down move won’t be signaled until 1475. but this does suggest the monthly target will generate at least consolidation.

the intraday hourly has traded down to its target and is now consolidating. we will see the next move originate there.

the monthly upmove is very near the two targets 1496-1517.

the weekly upmove has a 1513 target.

the Daily upmove has a 1496 target.

all time frame trade pressures are extended on the upside.
the time pressures are down thru the end of March.

a move down thru 1469 will signal lower. a trade down thru 1456 would setup the 1407 target,

Monthly and Weekly remain in the uptrend. 1524 is the next target up.
time pressures remain down thru the end of March.

Daily has reached the first target of 1452 and has found support at that level.
The prior high of 1462 and the next target of 1464 are acting as resistance.

Time cycles are pointing down and the trade pressures are now fully extended up and diverging.
a move down thru 1441 would signal a move lower.

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.

Monthly remains in uptrend.
Weekly is approaching the crossover into uptrend. a failure to cross would signal lower prices.

Daily – after testing the 1443 upside target 4 days in a row,
the daily has spiked down thru the 1413 short entry price but has closed above the low and above the short entry.
if there is follow thru down, the next target down is 1364.

a resumption of the move up would be signaled by a move above the 1443 highs.
the next targets up are 1443 and 1469.

 

S&P_

November monthly closed in the buy range. pressures are neutral.

weekly is in the trade up from 1391 to 1474. pressures are up.

Daily trade is up, but at resistance and showing negative divergences.
after a move thru the 1431 pivot, next target up is 1475.

a small pullback to 1399 would cure the current over bot conditions, and could set up a new move up.

these fiscal cliff conversations introduce chop. a rally is likely with any resolution.
but if too much austerity is part of the bargain then look for downward pressures in the first half 2013, then a recovery in the 2nd half.