Pressures on the Market.

Metals are in their continuing downtrend. Copper is our proxy for the Chinese developing economy. Gold and silver are in similar downtrends.

The oil trade is still short. Nat Gas is flat.

The DX long trade was stopped out.

The 30yr T-Bonds remain in a long trade with price rising and yields declining.

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S&P 500 Futures [Sept ’15 contract]

Monthly – The July month closed in the green. Trade pressures are up. Volume changed back to bullish from neutral. The next target up is 2182.

Weekly – The 2056 level remains the short confirmation level. This level has been tested seven times. Trade pressures are flat. Volume is bullish. The next target up is 2246.

Daily – Stopped out of the short trade from 2106 at that same 2106 entry price for no gain or loss. Trade pressures are down. Volume has turned bearish.

2092 is the entry for a new short trade. The next target down is 2066.

Stops at 2109. [Update 8/6/2015: Price now 2073, move stops to break-even at the entry price of 2092.]