#emini #spfutures #SP500 #ES

Market Pressures_

Copper has made nice move up. Gold and Silver also have moved but are now looking toppy.

Crude oil continues the move up but is very close to upside targets, expect retracement. Natural Gas is moving down in the midst of one one of the coldest weeks on record.

The US 30 year Treasuries are in a shallow pullback, looking for higher.

The US Dollar futures are testing the prior lows. Could have a bounce.

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S&P 500 Futures_

Monthly – Very near a 62% retracement of the move down from the 2951 high. Trade pressures are rising into the neutral zone. The next target down is 2372. A close above the 2900 level would confirm any new weekly move up.

Weekly – The sixth week of the move higher. Trade pressures are up into the neutral zone. Volumes are still bullish. The next target up is 2721. A close below 2566 would confirm any daily move lower.

Daily – Flat. Looks to be the fifth wave in this move up from 2412. Trade pressures are up but turning down. Volumes are bullish. The next target up is 2721. A close below 2597 would signal lower.

Price has moved just above the 2695 level reclaiming all the 2108 losses and now even ahead of the 2017 yer end close.

Crude, Gold and the S&P index are all at upside targets, be alert for a new move down in all three.

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Navellier Top 8 Stocks are doing well in the earnings season. The $100,000 Virtual portfolio is up about $12,000 in this month of January. A fast move up and not likely to continue at this rate.

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