Market Pressures_

Copper is retracing but still in the move up. Gold and Silver are still in a move down.

Crude oil and Natural gas are both in a retracement move up inside the larger move down.

The US Treasury prices are down hard, but appear to be reaching oversold territory.

The US Dollar futures are, conversely, reaching new highs but showing some divergences.

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S&P 500 Futures_

Monthly – In the uptrend since the 2011 mid-year low. Trade pressures are up but rolling over. Volumes closed the October month as bullish.

Weekly – Approaching new highs. Trade pressures are down but rising into the neutral zone. Volumes have changed from bullish to neutral suggesting some distribution here.

Daily – Flat. In the move up from the 2130 long entry. Trade pressures are up and trending. Volumes remain bullish but with declining daily volumes.

Have reached the 2183 target and experiencing some consolidation. The next target up is 2208.

A close below 2154 could signal a retracement.