#emini #spfutures #SP500 #ES

Market Pressures_

Copper continues the slide to the recent lows. Gold and silver have good weeks as the negative news flow pushed them higher late in the Christmas week.

Crude looks about to signal a new move up. Natural gas gave all the prior rally back and now sitting on support.

The US 30 year Treasury Bond is consolidating at the 144-145 highs.

The US Dollar futures are consolidating around the 96 level, but with a downward bias.

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S&P 500 Futures_

Monthly – Moved down hard to the 2368 target and the 25×5 MA. Trade pressures are down. Volumes closed the month of November as bullish. The next monthly target down is 2010. A close above 2900 would confirm any new weekly move up.

Weekly – The downside target of 2385 has held as support. Trade pressures are down. Volumes are bearish. The next target down is 2240. A close above 2591 would confirm any new daily move up.

Daily – Flat. Exhausting week? Trade pressures are down but rising. Volumes are bearish all week, even the up days. Late day rallies forced the move up, but the total volumes were bearish. Something to watch next week; to see if the daily volumes turn bullish.

In a new move up from the 2368 new long entry the day after Christmas. Thru the first target of 2451 in the same day. The next target up is 2535.

A close below 2404 would signal lower once again.

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Navellier TOP 5 – The late week rally has moved the Virtual portfolio to a breakeven on the year. The addition of DXCM helped the results with a very good week.

For 2019, the portfolio will zero out the results and initiate the new portfolio at the Jan 2nd opening prices to start a new year.

Also, this next year SOM will add three dividend payers to form a TOP 8 portfolio.

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