S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper remains in the extended rally to 3.00. Gold is now a new short; as is Silver.

Crude Oil is near a new short entry below 55.00. Nat Gas is basing after the sharp drop.

The US 30 Year Treasuries are in a move down but near support.

The US Dollar Futures are in a retracement move up to test the prior highs.


S&P 500 Futures_

Monthly – In the three month retracement up off the Christmas lows but still in the downtrend.. Trade pressures are rising into the neutral zone. Volumes closed the month of February as neutral. The next targetĀ  down is 2372. A close above 2900 would confirm any weekly move higher.

Weekly – 10 weeks of a move up off the Dec 24th lows. Trade pressures are up. Volumes are bullish. The next target up is 2818. A close below 2664 would confirm any daily move lower.

Daily – Flat. In the extended move up off the 2412 long entry price. Trade pressures are up and trending. Volumes have changed from neutral to bullish. The next target up is 2818. A close below 2695 would signal lower.

Lower time frame pressures are pointing up with a 60 min target of 2824. An hourly close below 2800 would signal a short term pullback to 2780. Below that level would set up a pattern of lower lows and likely trigger the bots.


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[The author may have long or short positions in any of the stocks mentioned.]

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