S&P 500 e-mini futures 23rd January 2012 Daily recap

Monthly and Daily highs Resistance

 
S&P Weekly and Daily cycles

S&P completes the move in the January highs @ 1314:- 

 The monthly and Daily highs formed resistance  (8.5 point reversal)....

As noted in the Weekly report.....

There is a potential 2nd wave pattern towards new highs in February, as part of the breakout pattern from 1278 towards 1340

however, over the next 4 days we begin to look for an patterns in the 5-day range (daily cycle) that suggests a retest of that breakout before the next leg upwards.




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