Market Pressures _

Copper is turning down. Gold is in the move up and near a target. Silver remains in a similar move up.

Crude Oil is in the second leg up with a 63-64 target. Natural Gas has turned back down.

The US 30 year Treasury Bonds are consolidating around the 153 pivot.

The US Dollar futures remain in the move down.

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S&P 500 Futures_

Monthly – 10 months of successive increases. Trade pressures are up and trending. Volumes closed the month of December as bullish. The next target up is 2766; this seems to be a significant target. A close below 2522 would confirm a Weekly move lower.

Weekly – Closed above the 2728 target. Trade pressures are up and extended. Volumes are bullish. The next target up is 2929. A close below 2670 would confirm a Daily move lower.

Daily – Flat. A break above the 2694 target level. A second level at 2737 broken also. Trade pressures are up and turning higher. Volumes are bullish.

The next target up is 2848.

Relative Strength divergence remains in place. A close back below 2698 breakout level would signal lower.

 

Market Pressures_

Copper has moved up sharply and has triggered profit stops. Gold triggered a long entry and was taken out with a profit stop also. Silver has followed gold.

Crude triggered a new long entry but the oscillator are overbot. Nat gas has had a nice move up but still in neutral zones.

US 30 year Treasury Bond futures are rising but inside a longer move down.

The US Dollar futures continue their move down. The move is extended so be alert for a change.

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S&P 500 Futures_

Monthly – This Bull leg in place from April 2016. Trade pressures are up and trending. Volumes closed th month of December as bullish. The next target up remains 2768. A close below 2477 would confirm any Weekly move lower.

Weekly – Nearing the final target level of the rally started November 2016. Trade pressures are up and extended. Volumes are bullish. The next target up is 2728. A close below the 2625 level would confirm any Daily move lower.

Daily – Flat.  This uptrend started in mid September 2017 and has been uninterrupted only with the successful test in November of the support line. Trade pressures are up, but turning lower. Volumes have changed from neutral to bearish.

The next target level up is 2737.

A close below 2634 would signal lower with the first targets near the November lows.

The Navellier Top 5 Stock selections have performed well the last quarter of 2017. We carry those positions forward into the 2018 calendar year on our Trade Results 2018.

The futures trading results were rewarding as well. See the Trade Results for 2017.

Market Pressures_

Copper is making a nice move up. Gold has begun a retracement up after the second leg down. Silver is attempting a new move up on very low volume.

Crude is in between signals. Natural Gas continues the move down.

The US 30 Year Bond futures broke down as expected. Probably. the reaction is more about the tax bill than the dollar.

The US Dollar futures are grinding around the 25×5 moving average resistance level.

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S&P 500 Futurues_

Monthly – Peeked a little higher. Trade pressures are up . Volumes closed the month of November as bullish. The next target up is 2766. A close below 2477 would confirm a move lower in the weekly.

Weekly – In the fifteenth week of a rally off the breakout from the 2484 target. Trade pressures are up. Volumes are bullish, but holiday light. The next target is 2718. A close below 2625 would confirm any Daily move lower.

Daily – Flat. At the daily target of 2696. Trade pressures are up but showing some divergence. Volumes are bullish but, again, light for the Holiday week.

A close below 2677 could start a quick retracement to 2617 and the 25×5 moving average. This 2617 level would be below the 2625 weekly confirmation level and would spook the market.

The Navellier Top 5 have performed well. The picks started in the Blog in this last quarter and are up nicely. The 40 futures trades show a performance consistent with the prior years solid numbers.

Market Pressures_

Copper has broken down. Gold and Silver have also broken down.

Crude appears to be attempting a retest of the highs. Natural gas is exhausting.

The Us treasury Bond is pressing down for a new short.

The US Dollar futures are in a new move up but a the old 25×5 moving average resistance.

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S&P 500 Futures_

Monthly – Another new high. Trade pressures are up. Volumes closed the month of November as bullish. The next target up is 2766. A close below 2447 would confirm any weekly move down.

Weekly – A Spinning Top. Trade pressures are up and extended. Volumes are bullish. The next target up is 2718. A close below 2585 would confirm any daily mover lower.

Daily – Flat. At 2654, in a pullback off the 2668 highs. December is not the best month to trade indices. Trade pressures are up but turning down. Volumes are bullish. Tax reform, Tax selling; all create crosscurrents.

The pullback target is 2618.

The next target up is 2696.

The Navellier Top 5 have suffered the “tech wreck” but are bouncing back.

Market Summary_

Copper made an attempt at a move up but failed at resistance, Gold and Silver remain in a sideways move.

Crude is at highs and is showing divergences. Natural gas is a classic weather trade.

The US 30yr Treasuries are in a move up, indicating some stresses somewhere in the markets.

The US Dollar is still in the retracement down.

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S&P 500 Futurues_

Monthly – The multi year move up continues. Trade pressures are up. Volumes close the month of November as bullish. The next target higher is 2788. A close below 2437 would confirm any weekly move lower.

Weekly – Also in this long move up from the 2162 long entry. Trade pressures are up but becoming extended. Volumes are bullish. The next target up is 2718. A close below 2586 would confirm any daily move lower.

Daily – Flat. In the move up out of consolidation from a new long entry at 2596. Trade pressures are up and also becoming extended. Volumes closed the week on a bullish note.

The week was marked by a rotation out of the Techs into Financials and Industrials. The  Navellier Top 5 pulled back as well. But their fundamentals remain strong and allow for continued purchases. See the results updates at https://southocean.net/trading-results-2/trading-results-2017/

Market Pressures_

Copper is in a new move up. Gold and Silver are consolidating.

Crude Oil is approaching the extended upside tarets. Natural Gas continues to fail. Perhaps the future Saudi public offering of their oil interests are generating crude price support.

The US treasury Bonds are reflecting the moves in the dollar.

The Us dollar futures are still in retracement.

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S&P 500 Futures_

Monthly – New highs into Thanksgiving holiday. Trade pressures are up and trending. Volumes closed the month of October as bullish. The next target up is 2766. A close below 2382 would confirm any weekly move lower.

Weekly – Closed on the highs. Trade pressures are up. Volumes remain steadily bullish. The next target up is 2729. A close below 2530 would confirm any daily move lower.

Daily – Flat. The last three days have moved up thru the consolidation at the 2585 target level. Trade pressures are up. Volumes are bearish, but very light going into the Thanksgiving week.

The next target up is 2691.

A close below 2584 would signal lower.

This powerful S&P index move up is hard to trade. The hourly did give some opportunities, but the profitable moves came in the Top 5 trades provided by Navellier research.

Market Summary_

Copper is in a hesitant  move down. Gold and Silver have had a small rally at the close of the week.

Crude oil retraces after a very nice rally, taking all the energy ETF’s and their constituents with it. Natural gas attempted a rally the week before but now is back in the move down.

The US 30 year treasury Bonds are in a short trade but can’t fight the dollar.

The US Dollar futures are in a retracement after the move up to 95.

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S&P 500 Futures_

Monthly – In the fourth month of declining volumes. Trade pressures are up. Volumes closed the moth of October as bullish. The next target up remains 2766. A close below 2373 would confirm any weekly move lower.

Weekly – Two successive weekly closes that were slightly negative. Trade pressures are up and looking extended. Volumes remain bullish. The next target up is 2729. A close below 2522 would confirm any daily move lower.

Daily – Flat. After the trade highs to 2594.50 a retracement taken price to the 25×5 moving average. Trade pressures are rising into the neutral zone. Volumes closed the week as bearish.

The next target up remains 2691.

If this 25×5 fails to hold the next target down is 2514, which is also below the weekly short signal.

The August high was 2486.75 and could be rational support.

 

Market Summary_

Copper is a new short. Gold and Silver remain in consolidation.

Crude oil is looking short term toppy. Natural Gas is in a new move up.

The US 30 year Treasury Bonds is in a new short.

The US Dollar futures are still in the move up. but having a pause.

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S&P 500 Futures_

Monthly – Narrow range so far in the month. Trade pressures are up. Volumes closed the month of October as bullish. The next target up is 2766. A close below 2375 would confirm any weekly move lower.

Weekly – The lower weekly close was the first in many weeks. Trade pressures are up, perhaps extended at 78 RSI. Volumes remain bullish. The next target up is 2729. A close below 2522 would confirm any Daily move lower.

Daily – Flat. 30 days of rally after the September breakout at 2522. Retracement would be normal. Trade pressures are now down into the neutral zone. Have not been here since the first week of August 2017. Volumes are still bullish which may suggest continued rotation from sector to sector.

The next target up is 2648.

A close below 2574 would signal lower. This level is very close.

The Navellier TOP 5 stocks are up about 10% since their introduction here in the last week of September 2017.

Market Pressures_

Copper is approaching a decision point. Gold and Silver are consolidating.

Crude has had a nice rally and has set a new uptrend. Natural gas is in a contra move up.

The US 30 year T-Bonds are in a move up.

The US Dollar futures remain in the move up.

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S&P 500 Futures_

Monthly – Only one bearish month since October 2016. Trade pressures are up. Volumes closed bullish at the close of October. The next monthly target up is 2766. A close below 2364 would confirm any weekly move lower.

Weekly – Another weekly bullish close. Trade pressures are up. Volumes are bullish. The next target up is 2729. A close below 2513 would confirm any daily move lower.

Daily – Flat. In the move up from the August 2454 level. Trade pressures are just up again out of the neutral zone. Volumes are bullish.

At the 2585 target now. The next target up is 2648.

A close below 2570 would signal a retracement, perhaps to the 25×5 moving average at 2558.

The Navellier Top 5 Stocks which were initiated in the last week of September are up almost ten percent for the month of October. See the trading results page on the South Ocean website to follow along.

Market Pressures_

All three metal Copper, Gold, Silver are in a retracement after the recent moves up.

Crude did breakout and moved thru the 54 level. Natural gas is in a new move up but the volatility is too high.

The US treasury Bonds are in a move down reflecting the rising rates.

The US Dollar has rallied to 95 and is looking still higher.

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S&P 500 Futures_

Monthly – Yet another new high. Trade pressures are up. Volumes closed the month of September as bullish. The next target up is 2766. A close below 2359 would confirm any weekly move lower.

Weekly – All averages point higher. Trade pressures are up . Volumes are bullish. The next target up is 2729. A close below 2508 would confirm any daily move lower.

Daily – Flat. The spike down thru the 2557 was warning. Trade pressures are up but have declined to near the neutral zone. Volumes remain bullish.

The next target up is 2585.

A close below this 2557 level would signal lower.