Market Pressures_

Metals. Copper testing new lows. Gold and Silver showing some consolidation around price targets.

Energy. Crude consolidating at a price level, but lower targets are nearby. Nat Gas long trade stopped out.

Bonds. US 30yr T-Bond is in a retracement long trade. Should take the first profit target.

The US dollar (DX) continues the long move up.

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S&P 500 Futures_

Monthly – The 2100 level has been tested four of the last five months and has resisted any breakout. Trade pressures are neutral. Volume was also neutral. 2201 is a new monthly long entry price.

Weekly – The 2094 long entry level was tested again this week. Trade pressures are up but showing divergence. Volume has turned neutral from bullish. Perhaps some profit taking?

Daily – Long. A V-shaped reversal up stopped the short trade out at the 2047 level. A new long entry at 2057 was triggered. The next target up 2152. Trade pressures are up. Volume is bullish.

Going into a holiday week. Set the stops at the entry price of 2057.