Market Pressures_

Copper is attempting to complete the move down. Look for possible long entry. Gold and Silver react to global events and global events can drive interest rates which affect the cost of carrying gold and silver – the virtuous or vicious “circle”.

Crude Oil has made a move up and now is in a retracement. Moribund natural gas maybe be showing some signs of life.

The US 30 Year Treasury Bond is in a nice move up and has broken out of the downward sloping channel.

The US Dollar futures have shown a reversal move to the upside as well.

__________

S&P 500 Futures_

Monthly – The monthly close below 2662 has confirmed the weekly move down. Trade pressures are up but rolling over. Volumes closed the February month as Neutral and this March month as neutral. The next monthly target down is 2304.

Weekly – The February lows has been tested and for the moment those levels have held. Trade pressures are down. Volumes have closed as bearish. The next target down is 2379. Need a close above 2796 to confirm a Daily move up.

Daily – Flat. The 2590 downside target has been met and appears to be acting as support. Trade pressures are down but turning up. Volumes closed as bullish.

A close below 2586 would signal lower. The next target down would be 2457.

A close above 2649 would signal higher. For now, every rally is a counter trend move inside the current down trend;.

This is the end of a 4 day week in advance of the Easter 3 day long weekend. It is also the end of the quarter for the fund managers; who bill quarterly. Shorts likely did not want to have any event surprises, so closed some positions.

Navellier Research still holds fast to the bullish thesis for their buy list. 1st Qtr 2018 earnings season will begin mid April. The  Navellier Top 5 Stocks for April have some changes. The model portfolio will sell those replaced and buy the new additions.