The US dollar is at highs, but pulling back. Crude Oil is coming off the recent lows and in a new long trade. Treasuries are in a short trade. The Euro futures are approaching a buy signal. S&P Futures are in a downtrend on the daily trade.

Monthly S&P – The upside target is 2191. Trade pressures are up. Volume has turned bearish for the first time in more than a year.

Weekly S&P – has met the 2088 weekly target and has turned down. the upside target of 2112 remains. The 2016 short signal was triggered. the next target down is 1904. Trade pressures are up. Volume has turned bullish from the prior week’s bearish.  Very choppy, but trending downward.

Daily S&P  – Feb 17th is the end of this downward time pressures . Trend is down. Trade pressures have turned up. Volume is bullish.

The trade is short from the 2041 entry. Price did move down near the first target of 1964. Price is now in a retracement up from that target and is at the 2066 upside short cycle target.  The 80 day moving average seems to be support for the moment.  But a failure would likely take the market down to the 1944 target and the 200 day MA.