weekly  – the move up from 1136 remains in place with the next target as 1279.  a move down thru 1199 will signal a new move down.  Time and trade pressures are turning down thru late February.

Daily – the next target is 1263.  trade pressures are up but diverging.  all time pressures are up.
a move down thru 1235 signals a new move down. time pressures turn down Jan 5th.

the tax conversations sent the market to 1235 at the open then down from there.

the new short entry is 1215 to 1155 with support at 1195.
appears to be a pullback inside the longer term uptrend so support should hold.

trade pressures are down and time pressures about to turn up.
intraday showing over sold, so may have a bounce up first.

weekly  – next target up is 1285.
time and trade pressures are showing a move down into the year end.
1172 will signal a new move down.

Daily- testing the recent highs.  1240 is the next target up.
the extending of the income tax rates will give the market a lift; but watch the 1240 to see if stops there.
trade pressures have turned down. time pressures have turned up.
1207 will signal the move down to 1147.

Weekly –  has touched the 1172 short entry, but time pressures remain up while the trade pressures are turning down.

Daily – time pressures are down hard thru the 2nd of December.
is in the down move from 1204 to 1145;  the support area of 1176 is now being tested.

the retracement trade up has tested 1205 and found resistance.
risk remains to the downside especially if 1171 is taken out.

Long term still in the upmove from 1143 to 1286.

Daily – in the downmove from 1205 to 1145 with first resistance at 1175.
the time pressures have turned down today and the move down has accelerated.
time and trade pressures are down thru the end of Nov.

will need a trade thru 1189 to restart the move up.

Hard to see yesterday’s reversal turning right around and going back up.
Now, Cisco news is sending Wed night after market down.
expect to go to downside targets.

Long term targets remain the same.
1172 will signal lower.

daily – 1204 entry price for the move down is touched during the day. the second time thru is confirmation. target is 1145 with first support at 1185.
1216 will signal a new move up.
trade pressures are turning down and time pressures turn down 11/16.

Long term –  in the long trade from the 1143 entry. the target is 1573 with first resistance at 1286.
trade pressures extended up and time pressures turn down the Christmas week.

Daily – in the up move to the 1228 target. a trade down thru 1207 starts a new down move to 1147 with first resistance at 1177.
time and trade pressures turn down  11/16.

the longer term move started with the trade thru the 1143 price and has 1572 target with the first resistance of 1286.  time and trade pressures are up.

the daily move has signaled both higher and lower.
we are consolidating around the prior 1180 target.
time pressures have turned up and trade pressures have turned down.  time turns down 11/16.
the 1173 short entry price has been triggered setting a target of 1114 with first support of 1154.

the long term time pressures turn up this next week.  trade pressures are already up.
the 1143 long entry has created a 1572 target. the two main resistance points will be the April’10 high and 1281 resistance target.

Daily – the 1158 was easily penetrated, signaling higher. the S&P is now at the final retracement target of 1180.
the next target up is 1186.

trade pressures are very extended up and the long time pressures are near the peak of the upside and will turn down this next week, the short term time pressures are up til Nov 9th then both are down thru the first week in Dec ’10.

A trade thru 1149 will signal a move down to 1053 with a test at 1117.50.

Long term is now in the uptrade from 1143 to 1286. trade pressures are up.
the time pressures are down, but those end 10/15 and 10/29.

Daily – have reached the expected 1058 and have traded above that. so the next higher target of 1180 is now active.
but now expect some consolidation and or retracement.
a move down thru 1142 sets up 1073 with a midpoint test of 1119.

60 min -a move down thru 1160 would set the 1148 target with a mid point test of 1157.