New highs again!

Money flows came back into the dollar resulting in another rally in the Treasuries and the equity markets.  ( A demand for the monopoly currency increases price. Which may mean the issuer, the US Federal Reserve, needs to increase supply of dollars.)

Copper made a nice move to it’s first target. Crude and Natural gas are still in a long trade, but looking weaker. Both the dollar and the 30 Yr Treasury are in a short trade. However, the dollar is holding up and will need some downside catalyst. The 30 year has completed a retracement down and is searching for the next short cycle trade entry. Gold and silver are in a short trade.

S&P-

Monthly –
Bullish volume came back in, but only half of the prior months bearish volume. Trade pressures remain up. The next target up is 2191.

Weekly –
closed just 4 points below the 2112 target. Trade pressures are up. Volume has dropped significantly and is now neutral. A close below 2045 would signal lower.

Daily –
The October cycle remains in the long trade with a 2144 upside target. March 6th is the end of the time cycle and it’s downward pressures. Volume is bullish. Trade pressures are up, but turning down. Price will cause the MACD to turn down with a close below 2104.

A further close below 2089 will signal a new move lower and could test the 2000 level.