S&P 500 E-mini Futures 19th January 2012 Daily recap

Today's trading is based on whether the trend follows the daily cycles towards the January highs @ 1314

S&P Weekly and Daily cycles

Early resistance around the Weekly highs....

However, intra-day price action (above the red filter) has seen the trend follow the daily cycles, as the market nears the January highs @ 1314.