S&P Futures

Long term pressures remain down.
the trading range since Feb 2010 has been between 1212 and 1004 on the futures.

Daily has touched the 1097 entry price twice but hasn’t made a move thru.
the prior retracement down was stopped at the midpoint of the downmove
and we have subsequently made higher highs on the hourly cycles.
But need to break above the 1100 area to move out of the downward channel.

So, a move thru the 1097 entry seems to be the key.

A failure of the 1064 target would signal a move down to the 1037 target.