#emini #spfutures #SP500 #ES

Market Pressures_

Copper finally accelerated the moved down. Gold rallied with the lower rates. Silver is dormant.

Crude Oil rallied to $60 and then failed. Natural Gas continues the basing action at the 2.80 levels.

The US 30 year Treasuries rallied as the recession fears mount.

The US Dollar futures are rallying even as rates decline.

________________________

S&P 500 Futures_

Monthly – Still in the bear market that the October drop thru the 2730 level started. Trade pressures are rising into the neutral zone. Volumes closed the month of February as neutral. The next target down is 2372. A close above the 2900 level would confirm any weekly move up.

Weekly – In the 13th week from the December lows. Trade pressures are up. Volumes are bullish. The next target up is 2976. A close below the 2745 level would confirm any daily move lower.

Daily – Flat. In consolidation after meeting the prior 2818 high pivot. Trade pressures are up but declining. Volumes are bearish. The next target up is 2976. A close below the 2747 level would signal lower.

_______________

Navellier Top 8 – The market drop on Friday took the portfolio values back to $113,000. The underlying earnings remain strong but the market is less willing to pay the same multiples of the earnings amid worries of a recession.

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