Market Summary:

Copper breaks out to OB.  Gold breaks down. Silver in correction.

Crude short worked, now in consolidation at 200 Day MA.  Natural Gas shorts are covering.

The US 30yr Treasury expect yields lower, The CPI on July 17th is projected higher. The 10yr yields now in the 4.20’s.

The US Dollar attempt to rally failed. Looks lower still.

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S&P 500 Futures   #ESU25

Monthly –Monthly bar above prior month high in rally  mode. Trade pressures remain in the neutral zone. Volumes closed the month of June as neutral; againon lower volumes.  The 6285 price remains the adjusted high. The next target up is 6246. A close below 5865 would confirm any weekly move lower.

Weekly – The weekly bar remains above the October median line, which is acting as support.  Trade pressures are up. Volumes are now bullish.  The next target up is a nearby 6248.  A close below 5908 would confirm any daily move lower.

Daily – Long. In the move up from 6050 on 6/23.   Trade pressures are up.  Volumes are bullish.

The next target up is 6241. Very OB.  The expected overbought level rises to 6174.

A close below 6070 would signal lower. The expected oversold level rises to 5960.

[Set the SL at 6118.]

[7-1-25: Raise the SL to 6222.]

[7-3-25: Raise the SL to 6247.]

[7-7-25: Sell at 6267.]

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