Market Summary_

• Copper may be completing the retracement move down. Gold and silver are still shorts, but with close stops.
• Crude broke down thru the $52 lower bound and moved sharply lower. Natural gas has turned up and is in a new long trade.
• The US Treasury bonds have moved down in anticipation of a March rate increase. A new short entry is signaled.
• The US dollar futures are down the last two days of this week. Should be moving up with a rate increase, so watch for a reason.

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S&P 500 Futures_

Monthly – In the move up from the 2152 level. Trade pressures are up and trending. Volumes closed bullish for the month of February.

Weekly – Experiencing a pullback in the move up. The next target up is 2487. A close below 2328 would confirm a new move down. Trade pressures are up and trending. Volumes remain bullish.

Daily – Flat. In the move up from the 2275 long entry. Trade pressures are down into the neutral zone. Volumes have returned to bullish.

The next target up is 2413-2427.

A close below 2358 would signal lower. The expected Daily target of 2241 is higher than the weekly short confirmation indicating any quick move down is likely temporary.

The FED is expected to raise rates at the next meeting. Even though expected, the market could react negatively. The US dollar futures are down and should be rising, so be alert for volatility.