Market pressures__

Metals – Copper is nearing the downside targets. Gold and silver are signaling a new long trade.

Crude trade has reached the short targets as bullish volume comes in late in the week.

The dollar DX is signaling some weakness which may help the equity market.

The 30 YR Treasuries are in a pullback after a good run up in price.

__________________________

S&P 500 Futures_

Monthly – The July month closed up. The next target up is 2162. Trade pressures are up. Volume is bullish.

Weekly – Trade pressures are down. Price keeps bouncing down to test the 2056 short confirmation level. The next target up is 2246. Volume is bullish.

Daily – Flat. No trade. Trade pressures are up. Volume has changed from neutral to bullish.

A new long entry was signaled at 2068 during the sharp down day and the late afternoon recovery. Missed that trade, so wait to see if a new entry is signaled.

A close below 2079 could signal a new short position.

[8/19/15: short entry triggered. 8/20/15: trading below the 200 day and the weekly short confirmation levels. next target down is 2024.]