S&P Futures

The Metals copper, gold and silver are all in long trades.

Both Crude and Nat gas are in long trades.

The Dollar has met most of it’s targets but still in a down move.

the 30yr T-Bond is turning up, showing a new long entry.

The rail car loadings are slowing. The private sector loan demand is showing signs of slowing. The US long bond rates are rising. But GDP measures suggest a slowing economy. The European economy is showing signs of recovery, but Greek issues, both financial and political, dampen the prospects.

The S&P 500 futures are very choppy reflecting these various pressures.

Monthly – new highs. The next target up is 2189. Trade pressures are up. Volume remains bullish.

Weekly – The channel formed from late February to now is still controlling. Price is now at the upper boundary. The next target up is 2254. Trade pressures are up. Volume is bullish now for six weeks.

Daily – The trade is long from the close above 2096 on Friday previous (which would have been entered on Monday) and met the first target of 2110 last Friday. The next target up is 2137.

Move stops to 2078.