Market Pressures_

• Copper is in a move up, Gold is still in the long trade. Silver is at long entry levels but the trade pressures are too high.
• Crude oil is showing a new long entry signal but the weekly pressures say, not yet. Natural gas is in a long trade but looks close to getting stopped out for a loss.
• The US Treasury bonds were stopped out for a break-even, looking of a re-entry after some retracement.
• The US Dollar futures are in a move down with more to go. The new administration is not exuding confidence.

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S&P 500 Futures_

Monthly – The move thru 2164 three months ago confirmed the move up. Trade pressures remain up and trending. Volumes closed the month of December as bullish.

Weekly – The prior highs were tested last week and found resistance, Trade pressures are up and trending. Volumes remain bullish. The next target up is 23.05. A close below 2200 would confirm any daily move lower.

Daily – Flat. Have been moving sideways in a narrow channel these last two weeks. Trade pressures are down but rose to touch the neutral zone last week. Volumes closed the week as bullish.

The new President is now installed, but administration policies are uncertain and varied.

The next target up is 2283; need a move above 2272 to get that going.

A close below 2252 would signal lower.