S&P 500 e-mini 3rd January 2012 Daily recap

S&P Weekly and Daily range

S&P opened above the Weekly highs @ 1272, and pretty much stayed above that level in a 8.5 point range for the entire day.

As mentioned in the Weekly report, the Primary cycles are bullish on the S&P...

And if they remain bullish at the start of 2012, then these upper Weekly zones are level where traders need to keep an eye on (Support).

If below 1261....

then there is a possible move back towards the Weekly 50% level, which aligns with the Primary cycle support zones @ 1235.




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