Market Pressures_

Copper has fully retraced the June rally. Gold broke down from the 1300 consolidation area. Silver is back to the side ways drift.

Crude Oil rallied in the morning this Friday. Natural gas is at resistance.

The US 30 year Treasury Bonds are showing upward pressures.

The US Dollar futures are in a new move up, but sold off this week down to the new entry level.

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S&P 500 Futures_

Monthly – Still in the 3 month rally. Trade pressures are up but declining. Volumes closed the Month of May as neutral. In the move down from 2662. The next target down is 2304. A close above 2883 would confirm any weekly move higher.

Weekly – Tested the new long confirmation level of 2796. Trade pressures are up. Volumes have changed from bullish to neutral. The next target down is 2589. A close above 2796 would confirm any daily move higher.

Daily – Flat. Consolidating at the 2753 upside target. Trade pressures are now down. Volumes are bearish.

The next target up is 2822.

A close below 2735 would signal a new move lower. The 25×5 is acting as support at 27.46. A breakdown of these levels would set the next downside target at 26.38.

The Navellier Top 5 suffered some profit taking, especially the China related stocks. However, these are the best of the financial screens and when the market gets going again the list will move first.