#emini #spfutures #SP500 #ES

Market Pressures_

Copper and Gold and Silver seem to want to go higher, but are stalled in a consolidation channel.

Crude is in the move down to the 67 target. Natural Gas is in consolidation at the the 3.30 highs.

The US 30 year Treasury Bonds are in a retracement move up.

The US Dollar futures are attempting to start a new move up but meeting resistance at the 95 entry level.

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S&P 500 Futures

Monthly – Still in the move up. Trade pressures are up but declining. Volumes closed the month of September as bullish. The next target up is the 2947 high. A close blow 2726 would confirm the weekly move lower.

Weekly – In the new move down from the 2865 level. Trade pressures are now down. Volumes are bearish for two weeks in a row. The next target down is 2739 which was touched and is now acting as support. A close above 2806 would confirm any new daily move higher.

Daily – Flat. In the new move up from the 2770 long retracement entry. Trade pressures are still down. Volumes have changed from bearish to neutral suggesting short covering.

This 2770 level is a pivot point between the long and short. Monthly pressures are still up, Weekly pressures are now down and Daily pressures are down. Need a close above 2864 to counter these negative pressures; but, for the moment, these movements suggest more downward pressures. with targets in the 2680 area.

Jaime Diamond says beware of the geopolitical stresses.

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The Navellier TOP 5 have sold off with the market. Earnings season for the list begins in these last two weeks of October which should benefit the fundamentally superior companies.