Ten different days have tried to breakout above the 1100-1105 levels. But the downward pressures seemed to have stopped them each time. buying pressures have resumed and the down cycle ended friday, resulting in the market move to the upside in the afternoon trading.

Long term –
all price objective levels remain the same. looking for the 1129 and then the 1162 price objectives. 1048 is the entry point for a new down leg.

Daily –
should be the most reactive this coming week. cycles are up and the buying pressures have turned back up. a trade thru the friday will activate targets near the recent highs; and any move beyond those highs will bring the longer term targets into range. a failure to make new highs and then a trade back below 1093 will be cautionary.

Intraday –
recognize the short cycle is still down with a target of 1084. will need a close above 1105 on an hourly basis to counter that cycle. The first hour on Monday will be interesting.