Copper has rallied to upside target with some more to go.

Gold and Silver are in the move down.

Oil continues to rally and Natural Gas may be starting a new move up.

The dollar has traded down to its target but may be ready to signal a new move up.

T-Bonds are still in the move down.

The European negotiations with Greece occupied the attentions of the markets. The Euro moved up smartly to break the 1.1200 level. The Chinese banks are in stimulus mode; but the industrial metals are behaving as though the Chinese economy is in growth mode.

S&P 500_

Monthly – 2189 is the upside target. Trade pressure are positive . Volume is bullish.

Weekly – the upside target is 2254. Trade pressures are up. Volume is bullish. The weekly remains in the 2110-2040 channel.

Daily – Price has tested the 80 day moving average for four months. This support level is currently 2065. The trade is flat after getting stopped out at the 2100 level.. Last weeks run up was stopped at the upper bound of the 2040-2100 channel.

Now the trade pressures are down. Volume has turned neutral after the prior weeks bearish volumes. The bias remains down. A close below 2093 is a short trigger, but the volatility is greater than the stop, so pass on that entry. (Could go down to a shorter time frame and see if there is a trade there.)