the time pressures are down til May 3rd. trade pressures are turning up.
the 1288 target was met on the move down, the next target down is 1277.
a move up thru 1314 starts a new move up.

have traded down thru the short entry.

next target is 1276.
trade pressures are down and time pressures are down thru May 3rd.

need a trade above 1329 to restart the move up.

futures have traded to 1338. two different long term projections have 1341-1345 as targets.
a break above these creates a new upside target of 1565.
on the long term charts, the trade pressures have made a reversal back to “up”.  time pressures are now up thru June.

Daily – trade pressures are turned down while time pressures are up.
a 1312 is the entry price for a move down, first stop 1288.
[the Japanese report of another 7.4 quake sent the futures to 1322 in 15 minutes]

a breakout above the 1338 high should go to 1349.75.

the dollar index is likely to be the driver, a move up in the dollar should cause a sell off in the tangible assets and stocks.
the metals are stalling here, European euro bears watching.

the move up on the daily cycle is happening within the longer term down move to 1208.
the long term time pressures are down thru May 20th. the long term selling pressures are still intact.

The shorter daily cycle is in the uptrade from 1285 to 1329.
a trade below 1289 would start a new move down.
daily trade pressures are up. time pressures are up.

 

the move up on the daily cycle is happening within the longer term down move to 1208.
the long term time pressures are down thru May 20th. the long term selling pressures are still intact.

The shorter daily cycle is in the uptrade from 1285 to 1329.
a trade below 1289 would start a new move down.
daily trade pressures are up. time pressures are up.

the weekly time pressures are up, trade pressures are down.
in the down move to 1208.

the daily is also in the down move to 1211.

this short term move  up from 1285 to 1329 is a correction in the move down.
trade pressures are up. time pressures are up.

the long term short entry of 1290 was touched and is acting as support. 1238 is the first target down on this long cycle.

Now in the move down from 1315 –
the daily down target of 1282 was reached and price is  consolidating. 1249 is the next target down.
trade pressures are down.
but the time pressures turned up on friday and, as if on cue, the market rallied to the intraday target of 1303.
the next short cycle target up is 1318.  [since the dominant cycle is down, it is logical to expect the market to turn down from there.}

it will take a trade up thru 1322 to restart a move up.

—-   now using the June contract  —-

the weekly 1290 entry price has been triggered. first target down is 1238.

the Daily move has been down from 1318 has met most targets, next target down is 1249.

the new up cycle turns time pressures up today.
trade pressures are oversold and turning up on the intraday cycles.

a move up thru 1322 will signal a move up.

there is a long term short entry at 1290 with a target of 1213.
this a corrective move.  the longer term upside targets of 1422 and 1556 are still in place.
the long cycle time pressures are down til mid May 2011 and the trade pressure are down.
>>>>>>>>>>>>>>

S&P in the daily down move from the 1319 short entry to 1253.
have bounced off some trendlines, but now looking at a second leg down to the 1253 target.

time pressures are down for the next few days and then up.
need a trade up thru 1336 to restart a move up.

the 1346 target was almost met with the friday high of 1343. a move down thru 1290 starts a new move down.
the long term downward time pressures end march 11th. trade pressures have been fully extended for some time now.

Daily – the move down thru 1329 started this move down to the 1290 target.
this target is the short entry for the long cycle. so expect a move up off the target and then look for a trigger for the next move down.
time pressures are down till mar 10th. trade pressures are down.

a move above 1328 is required to restart the move up, and even then, the recent high will provide significant resistance.