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.

The monthly is testing the bearish move below the MACD.
could be a strong bullish signal if we can close the month up and the MACD remains up.
need to close above 1381.50.

the weekly needs a close above 1391.00 for a new long entry.

and the Daily triggered the long entry today at 1359.75 with the next target of 1392. so we can see the confluences at work.
expect resistance at the 1392 level.
the MACD turns positive tomorrow the 20th, look for follow thru.
the important levels will be the triple top at 1431. if those can be taken out then a test of the recent highs is likely.

if the rally fails then 1323 will be the next downside target.

S&P_ the monthly closed into a downtrend. the weekly trade has closed at the 1368 target.
price is above critical moving averages and the pressures are near the over bot levels, suggesting some relief from this move down.

the daily trade is down but at the 1365 target.  expect consolidation and a possible move up.
a trade up through 1415 would signal a new move up.
a shorter cycle trade up through 1382 would test that longer cycle entry price.

a failure of this 1365 support level would quickly send the market down to 1324.

S&P monthly trade remains in the uptrend, the weekly remains in the downtrend.
Election confusion?

the Daily trend crossed over to a bullish trend on Nov 2nd.
a trade back down into the bearish trade would setup a new move down to 1376.

But for now, the technicals are in the long trade from 1413 to the 1442 target.
a trade below the 1393 low will cancel the long trade.

Intraday, 60 min _ this reversal is worrisome,
and has produced a short trade signal with a target down to 1390 which breaks the 1393 lows.
this would run some stops and could produce a sell off to the 1364 target.

[Nov 7, 2012 Update]

the trade below 1393 has triggered those stops.
the next test is the Sep lows of 1387.

the current downside targets are 1376 and 1364

it will take a reversal above 1407 to stop this momentum down

the weekly S&P remains in the downtrend to 1368.
the daily is in the downtrend and has touched the downside target of 1395.

a move up above 1413 would trigger a long signal to 1444.

pressures are turning up.

S&P 500_ after the sharp drop on Friday the 19th, the monthly remains in an uptrend, the weekly has broken down and is in the sell.

the Daily has traded down thru the sell signal and is now about to test the prior week’s lows.
the next target down is 1410 and then 1379.

the intraday pressures are oversold,
so a move up thru 1445 would retrace enough of the move down and start a new move up to the 1491 target.

the Monthly target of 1523 remains active. pressures are up and trending.
Higher highs and higher lows are the order of the day.

the weekly target of 1473 is providing some resistance.

the long Daily trade is slowing, last week any move up was met with profit taking.
pressures remain up. 1492 is the next target up.

it would not be unexpected to see the market trade down to the recent lows of 1422.