#emini #spfutures #SP500 #ES

Market Pressures_

Copper follows the equity markets and is at the lower channel bound. Gold rallied with the tariff uncertainties. Silver is quiet but shows a bullish bias.

Crude Oil is near a new long entry. Natural gas is consolidating at it’s highs. But price should bring out new gas supply.

The US 30 year Treasury Bond rally is now at resistance.

The US Dollar futures are showing some signs of topping out.

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S&P 500 Futures_

Monthly – In the move down. Trade pressures are down. Volumes closed the month of November as bullish. The next target down is 2603, then the 25×5 MA at 2500. A close above the 2947 high would confirm any weekly move higher.

Weekly – In the move down from the 2859 short confirmation. Trade pressures are down. Volumes are mixed neutral to bearish. The next target down is 2597. A close above 2877 would confirm any daily move higher.

Daily – Flat. In the move down from the 2768 short entry. Trade pressures are down. Volumes are bullish to neutral.

Moved down to the 2695 target in one day, resumed the move down a day later to the 2622 target which produced a intraday huge recovery, only to give it all back the following day with a second test down to the 2622, where the market closed on Friday.

Could have traded the Thursday spike with a long trade, but too much volatility (risk).

The next targets down are confluences of the many older cycle targets and the 2603 October lows. If that fails then 2503 is the next target down.

A close above 2671 would signal higher.

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Navellier TOP 5 – No early Christmas presents here. Holding just around a breakeven for the year.

[The author may have long or short positions in any of the securities mentioned.]