Author: Charlie

S&P Futures

Monthly- trade pressures remain up. volume is bullish.
the next target is 2234.
Weekly- Trade pressures are up. volume is bullish.
the next target is 2095.

Daily –  the daily trade is up after the close above the 1998 long entry and the subsequent close above 2000.
The 2014 target was touched and then the market has pulled back.
The huge Alibaba dollar volume has to have some effect on the near term cash-flows in the market.
the next up target is 2042.

This Monday morning trade down thru 1991 will signal a potential retracement down to the 1955 and 1919 targets, if it holds at the close.
Trade pressures remain up and volume is bullish but declining.

[Thursday’s close touches the 1955. Vol bearish, trade pressures are down. Next target is 1919. But the nearby resistance at 1946 could give a bounce on Friday]

[Friday- and bounce we did. Close was 1982 off the 1955 support. a trade close above 1993 will signal a new move up.
a break below 1955 sets up the next target down of 1932]

US $$

USD(DX)_
Weekly –  the DX continues this strong move up to the 85.26 target.
trade pressures are up and vol is bullish.

Daily – at the 84.73 target and consolidating.
trade pressures are down. Volume is bullish.

a short trade would be indicated by a move down thru 84.23.

30YR TBONDS_
Weekly – in a retracement in the long trade. sitting on 135-27 support.
trade pressures over-bot and vol is bearish.

Daily – in a retracement down of the up-move. the next target down is 133-30.
Trade pressures are up. vol is neutral.

need a trade thru 139-08 to restart up-move.

Oil & Gas

CRUDE_
Weekly- trade pressures are down and volume is bearish.
next target down is 85.07.

Daily- remains in the move down to 82.65. a short covering rally took price to a long entry but did not close above.
Trade pressures are up. volume is neutral.

the next long entry is 93.68.

NAT GAS_
Weekly-  remains in the move down, the next target is 3.41.
trade pressures are down and volume is neutral.

Daily- in the move down to 3.47.  Trade pressures are up and volume is bearish.
showing shelf of support at the 3.73 level.

need a trade above 4.37 to start a new long.

Metals

COPPER_
Weekly- pressures are down, vol is bearish.

Daily- in the trade down to 3.00. Testing the 3.03 low.
the next target down is 2.61.  China economy is the key.
trade pressures are down and volume is down from neutral.

the next long entry is 3.14.

GOLD_
Weekly – remains on track for the 1142 target down.
trade pressures are down and vol is bearish.

Daily- dropping thru the 1234 support. trade and volume pressures are down.
the 1195 target is next.

need a close above 1232 to restart the long position.

SLIVER_
Weekly- breaks the 18.61 support. the 16.25 target is the next down.
trade pressures are oversold. volume is bearish, but very low.

Daily- traded down to and thru the 17.91 target. should see consolidation here.
trade pressures are over sold. volume is bearish.

need a trade above 19 to get the bulls interested.

S&P Futures

Now in the DEC ’14 contract.

Monthly- vol is bullish but declining. trade pressures up also declining.
the next target up is 2234.

Weekly- volume is neutral. Trade pressures remain up.
the next target up is 2095.  a trade down thru 1933 would signal lower.

the Daily trade is down from the short entry of 1980 (1988 on the old contract) to the first target of 1944.
volume is bearish and trade pressures are down, but showing some over sold.

need a trade above 1999.75 to reverse this sentiment.

[The Cash Market, SPX.X above, is short from 1992 with a 1962 target. The weekly has a short entry at 1947.]

US $$

USD (DX)_
the inflows into the dollar have been extraordinary. The move is up from the long entry of 81.75.
Both volume and trade pressures remain up. the next weekly target up is 85.26.

The Daily trade is up from the 80.46 long entry and is pennies away fro the 84.73 target.
volume is bullish and the trade pressures are up, and showing some over-bot pressures.

A trade below 83.95 could start a retracement down to 82.62.

30YR T-Bonds_
What is the FED going to do?
the weekly volume went bearish. and trade pressures while still up, turned down some.
the next target up is 143-16 and the old target of 135-24 is acting as support.

The daily Trade is short from 138-30 with a 133-30 target.
volume is bearish and trade pressures are bearish.

need a trade above 139-20 to get long again.

 

Oil & Gas

CRUDE_
Weekly volume is bullish. Trade pressures are down but oversold.
the next target down is 85.07.

The Daily trade is down and at the 90.89 target.
the next target down is 82.65.
volume is bearish. Trade pressures are down but oversold.

need a trade above 94.90 to trigger a long entry.

NAT GAS_
Weekly still in the move down to 3.41.
trade pressures and vol still bearish.

Daily Trade is down with a target below of 3.47.
volume is bearish and trade pressures are down.
But some buyers appear at 3.75. we’ll see?

need a move above 4.50 to trigger a long entry.

Metals

COPPER_
Closed at 3.10.

Weekly volume is bearish but trade pressures are showing oversold.
the bearish pressures on the time cycle could be coming to an end in this next week.

The Daily trade is down with a target below of 3.005.
volume pressures are neutral and trade pressures remain down.

need a move above 3.17 to trigger a long entry.

GOLD_
Lower as projected.
Weekly volume pressures are bearish. Trade pressures are down but getting over sold.
weekly target down remains 1142.

Daily Trade is a the 1234 target. Volume pressures are bearish. trade pressures are down.
the next target lower is 1195.

need a move above 1247 to trigger a long entry.

SILVER_
At the 18.50 target after breaking the May’14 lows.
Weekly volume pressures are bearish. trade pressures are down but over sold.
the next weekly target down is 16.25.

the Daily trade is at target. Volume and trade pressures remain down.
The next target down is 17.91.

need a move above 19.08 to trigger a long entry.

S&P Futures

The cash market (the chart above) has traded up near the 2014 target and bearish volume has come in.

the futures trade and volume pressures remain up on the monthly and weekly.
the monthly target up is 2212.
the weekly target up is 2103.

The daily trade is still long with the next targets up of 2066,2080 & 2095.
the daily trade pressures are down. the volume pressures turned bearish 2 days ago and were neutral yesterday.

a trade closing down thru 1988 will signal a short entry which could test 1952 and 1915.

the intraday volume is down to neutral.

 

US $$

USD (DX)_
Weekly trade and vol pressures are up.
the weekly has rallied thru the 83.05 targets and is signalling higher to the 85.00 target.

the daily is moving to the 84.22 target with all pressures up.

The Euro is the principal driver with the advent of a form of QE which will act to lower interest rates in the EU.

30YR T-BOND_
Trending higher on bullish vol and positive trade pressures. Over-bot comes to mind.

the weekly target is 143-16.

the Daily trade next target up of 141-14. still in consolidation around the prior target of 139-16.
volume pressures are down and trade pressures are down.
has signaled a move down at the 138-23 short entry then had a retest of the 140-08 high and down again; but no follow thru yet.