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.

The longer term targets of 1346 remain in place.
time and trade pressures remain up. But time turns down in the last weeks of Feb.

Daily – in the move up to 1341. a trade below 1317 will signal a move down.
trade pressures are up and the time pressures are neutral to down.

 

the long term target of 1345 remains in place. time pressures are up and extended. the time pressures turn down in May 2011.

the daily short entry went to the first target of 1251.
this move up today triggered the long entry at 1294 and took out the recent high.
[always interesting to see the the pressure changes work.]
the next target up is 1310.
[update; the 1310 was reached and is now acting as support. the next target up is 1326.]

trade pressures are up and extended and the time pressures are up; they peak Feb 15th.

All the commodities and the dollar currencies have time pressures turning up near the end of January.

No change in the longer term upside targets of 1346.
weekly trade pressures are up and time pressures are down thru March 11.

Daily –  time pressures turn up on Jan 31st.  Trade pressures are down.
the short entry price of 1277 was met last week.  1257-1248 is the next target area down.
1299 will start the move up.

in the down move to 1219, w support at 1257.75.
downward time pressures end Jan 31st.

1303 starts the new up move.

the long term targets remain the same at 1345.

[Apple is down 3% on the Steve Jobs medical leave notice. but the dow and the s&p are up.]

the daily move is up. the time pressures are down and trade pressures are up and extended.
the next target up is 1310.
a trade down thru 1273 will start the move down to 1216 with support at 1245.

 

long term coincident upside targets at 1345 remain in place.  a move down thru 1075 is required to start a new leg down.
long cycle time pressures show up for the 2011 year; with shorter cycles showing downward pressures in the latter half of 2011.

Daily – still in the move up to 1358.
a retracement correction to 1200 would start with a move down thru 1257.  first support would occur at 1229.50
trade pressures are extended up and showing some divergence.
time pressures are down from the Jan 5th peak to Jan 31.