Market Summary_

Copper in the second leg of a move up that started after the election. Gold is in the 1200-1300 channel. Silver is at weekly resistance.

Crude oil is pulling back to a long  entry point, but is still in the weekly downtrend. Hurricane confusion, perhaps. Natural Gas started a move up but that has stalled.

The US 30 year Treasury Bond is in a slow move up, not enough momentum for a trade.

The US Dollar futures are consolidating at the recent lows.

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S&P 500 Futures_

Monthly – Looking to be the first down month in 5 months. Trade pressures are up. Volumes closed bullish for the July month. A close below 2267 would confirm a weekly move down. August is the first month with a trading loss this year for the SOM virtual portfolio.

Weekly – With a recent high of 2488.50, the weekly 2484 target appears to be the resistance. Trade pressures are down into the neutral zone. Volumes have changed from bullish to bearish over the last three weeks. A close below 2416 would confirm a Daily move lower.

Daily – Flat. In the move down from 2468. Trade pressures are slightly up, rising out of the neutral zone. Volumes are now bearish at the close of the week.

The short trade was stopped out at the 2471 stop for a loss. The market then continued down.

The next target down is 2408.

A close above 2460 would signal a new move higher.