S&P 500 e-mini 12th January 2012 Daily report

Trend bias is to continue towards the Weekly and then the monthly highs.

Random resistance Thursday’s highs

S&P Weekly and Daily cycles

 Early move upwards from the daily filter @ 1286 saw price move up hit resistance levels, and reverse back down into the trailing daily support levels.

Blue channel highs and 5-day 50% level @ 1282 pushed the S&P back towards the highs.

Target remains the January highs @ 1314



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