the weekly had traded down thru the short entry of 1298.75 to a low of 1252.75.
and is now in a retracement up. the next weekly target down is 1229.50

the long time cycles are up until the 22nd of July.
trade pressures are up now.

the daily is in the trade from the 1285 long entry price to the 1333 target.
the market responded to the end of the downward time pressures on june 27th and has been up since then.
time pressures are up until the 17th of Aug. but will be influenced by the weekly downward pressures beginning July 22nd.
a trade down thru 1287 will restart the move down to retest the recent lows..

still in the long trade to 1333.
time pressures turn up on the 27th of June, trade pressures are down but trying to turn.

the down day traded thru the 1271 short entry but closed above the short entry in a big reversal move.
a move back above the long entry of 1285 will be a confirmation of the upmove.  short term target is 1293.

the shorter cycles are fully extended on this up move; so look for a pull back of some small magnitude to buy.
usually happens over night.

in the move up to the long entry price of 1285.
[price now 1290.]

trade pressures are extended so should have a pull back and then a second move up to the 1333 target.
time pressures turn up this last week of June.

a move down thru 1268 will signal a new move down to the 1226 target.

have been walking down the median line of the green pitchfork. the next targets down are 1235 and 1227.

the time pressures turn up on June 27th. the trade pressures have already turned up.
a trade above 1285 signals a new move up.
the overnite futures are already up 11.50 pts to 1274.

weekly time pressures turn down into the last week of July. trade pressures are down.
next target down is 1235.

daily trade pressures have turned up. the downward time pressures turn up on June 27th.
a trade up thru 1292 [or a take out of last weeks high] starts a new move up.

the intrady move up started this Wednesday morning at 1270 with a 1285 target.

a review of the existing cycles show
a monthly cycle down into November 30th, 2011.
the weekly cycle is up til July 11th then turns down thru November 4th, 2011
the daily cycle is  down til the end of June and then up to July 22nd.

the futures are in the trade down to the final target at 1276.
trade pressures are becoming over sold and a time pressures turn up on June 27

a move up thru 1310 will signal a long entry to 1341.

while the long cycle remains in the trade up to 1415,
the weekly trade pressures are down and the time pressures will turn down the 4th of July.

the daily cycle has been in the trade down from 1349 and is at the 1313 target today.
trade pressures are down and time pressures are down.
the next target down is 1300.75.

short term – could have a bounce back to 1330, if a trade up thru 1318 signals.

the longer term time pressures are up thru the 4th of july then down into october
trade pressures aremain u but showing some divergence.
while still in the longer cycle move up, a trade down thru 1321 would signal a lower market to 1243.

the Daily is already in the trade down from 1349 with the next target down at 1313, with multiple levels of support at the 1325 level.
again seeing the divergences that could indicate a move up, albeit short lived.

daily time pressures are turning down next week. trade pressures are still down but diverging.
a trade up thru 1345 could signal a trade up to test the recent highs.

the projected high for this market move is 1560. but a pull back comes first.
we have traded thru the short entry price of 1349 today. the next target down is 1313.

need a move up thru 1357 to test the recent highs.
the time pressures are up thru May 16th.  the trade pressures are down.

the early morning futures are well above the 1314 long entry price. next target is 1337.

a failure to take out the April 1st high keeps the short trade alive.
the downward time pressures remain in place til May 3rd.
trade pressures are up.