Market Pressures_

Copper remains in the move up but is consolidating at the 2.45 level.

Precious metals are signalling lower.

Crude is still in the move up.

Nat Gas is lower with no direction.

The 30yr T-Bond short trade is still on.

The $US Dollar is retreating but shouldn’t expect too much lower.

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S&P 500 Futures_

Monthly – The August month closed lower but above the 1907 confirmation level for a short. Trade pressures are down. Volume closed bullishly.

Weekly – Confirmed Short from the 2056 level. Trade pressures are down but extended. Volume has been neutral for four weeks which may be a result of distribution.

Daily – Flat. The price rising amid the weekly distribution has made it difficult to sustain any move. Price remains in the downtrend from early June.

Trade pressures are down. Volume is bearish after the FED keeps rates down.

[Update Monday pm: Short from 1952. Next target down is 1924.  Stops are at 1969.]

[Update 9/22/15 Tues am: Lower stops to the short entry price of 1952.]

[Update 9/23/15 Wed Am: 1924 acting as support. next target down is 1909.]

[Update 9/24/15 Thursday: Lower stop to 1924.]