Market Pressures_

• Copper is at a pivot, and could go either way. Gold is trying to move above weekly resistance. Silver is in a new long trade.
• Crude is at the downside target and will be dependent on any move in the dollar. Natural gas is trying to make a second attempt at a long trade from the 2.97 entry level.
• The US 30 year has entered a new long trade. Use tight stops.
• The US Dollar futures are at support, but still seeing downward pressures.

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S&P 500 Futures_

Monthly – The 2401 highs are holding. Trade pressures are up and trending. Volumes closed the February month as bullish. A close below 2180 would confirm any weekly move down.

Weekly – Still in the uptrend. Trade pressure are up, showing a hint of a downturn. Volumes have turned bearish. A close below 2328 would confirm any new daily move down.

Daily – Short. The close below 2358 has triggered a new short entry. Trade pressures are down. Volumes have changed from bearish to neutral.

The short trade was entered at 2351. The next target down is 2319 and 2301.

Stops are at the 2388 recent high.

[3-28-17 Update: lower stops to 2360, today’s high.]

[3-30-17 Update: The 2319 target was met, then price rallied and was stopped out at the 2360 level for a 9 pt loss.]

 

 

 

 

Market Summary_  #tradesummary

• Copper has signaled a new long. Gold and Silver have both been stopped out of their respective short trades.
• Crude had a sharp move down. Look for a retracement move up. Natural gas had a new long move but was stopped out at for a break-even.
• The US 30 year Treasury Bond has a new short entry, but indicators say wait.
• The US Dollar futures declined after the FED raised rates. Expectations may have been fully discounted, or the market doesn’t like the rate increase. Will have to see what the reason is after some time passes.

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S&P 500 Futures_  #eminfutures

Monthly – Still trading around the 2401 highs. Trade pressures are up and trending. Volumes closed the February month as bullish. Volumes have declined for three successive months. A close below 2180 would confirm a weekly move down.

Weekly – Remains in the uptrend. Trade pressures are up and trending. Volumes remain bullish. The next target up is 2487. A close below 2328 would confirm any daily move down.

Daily – Flat. In the move up from the 2275 long entry. Trade pressures are in the neutral zone. Volumes are mixed, bullish-bearish-neutral.

The next targets up are 2413-2427.

The 2358 short entry was traded thru intraday, but did not close below that level. Trade pressure divergences suggest downward pressures to come soon.  Time may also show some downward pressures in the last week of March.

[Update 3-23-17: Short the June contract @2351]

 

Market Summary_

• Copper may be completing the retracement move down. Gold and silver are still shorts, but with close stops.
• Crude broke down thru the $52 lower bound and moved sharply lower. Natural gas has turned up and is in a new long trade.
• The US Treasury bonds have moved down in anticipation of a March rate increase. A new short entry is signaled.
• The US dollar futures are down the last two days of this week. Should be moving up with a rate increase, so watch for a reason.

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S&P 500 Futures_

Monthly – In the move up from the 2152 level. Trade pressures are up and trending. Volumes closed bullish for the month of February.

Weekly – Experiencing a pullback in the move up. The next target up is 2487. A close below 2328 would confirm a new move down. Trade pressures are up and trending. Volumes remain bullish.

Daily – Flat. In the move up from the 2275 long entry. Trade pressures are down into the neutral zone. Volumes have returned to bullish.

The next target up is 2413-2427.

A close below 2358 would signal lower. The expected Daily target of 2241 is higher than the weekly short confirmation indicating any quick move down is likely temporary.

The FED is expected to raise rates at the next meeting. Even though expected, the market could react negatively. The US dollar futures are down and should be rising, so be alert for volatility.

Market Summary_

• Copper is in a retracement down. Gold and silver are at or near a new short entry.
• Crude is pulling back to the lower bound of the 52-54 range.  Look for a break or a bounce there. Natural Gas is at weekly downside targets so look for some consolidation.
• The US Treasury Bonds have made an attempt to go higher in price but the FED rate hike talk has stopped the move.
• The US Dollar futures have trended higher on the same FED talk, but sold off on Friday. The rate hike should cause the dollar futures to rise, unless the market interprets the dollar rise sufficient to choke off trade and growth.

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S&P 500 Futures_

Monthly – In the 5th month of this move up. Trade pressures are up and trending. Volumes closed the month of February as bullish. The next target up is 2768. A close below 2180 would confirm a new move down.

Weekly – Six weeks of an up move. Trade pressures are up and trending. Volumes are bullish. The next target up is 2487. A close below 2328 would confirm a new move down.

Daily – Flat. In the move up from 2275. Trade pressures are up but rolling over. Volumes have changed to neutral (distribution).

The next target up is 2413-2427.

A close below 2362 could signal a new move down. 2323 is short term support.

Market Pressures_ #trade summary

• Copper has pulled back to the first downside target should consolidate here. Both Gold and Silver have moved into a new weekly uptrend.
• Crude oil has moved up over the last two weeks to upper bound of the 52-54 channel. Natural gas continues the steady decline.
• The US 30 yr Treasury bond has move up in price with some weekly confirmation.
• The US dollar remains below the 101.50 level with a downward bias.

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S&P 500 Futures_ #eminifutures #spfutures

Monthly – In the second leg up of a 12 month move up and 4 months up from the 2152 long confirmation level. Trade pressures are up and trending. Volumes remain bullish for the last 10 months. The next monthly target up is 2766. A close below 2146 would signal lower.

Weekly – In this move up for 5 weeks. Trade pressures are up and trending. Volumes remain bullish. The next weekly target up is 2487. A weekly close below 2292 would confirm a move lower.

Daily – Flat. Eleven day into this move up that started Feb 2nd and have reached the 2351 and the 2363 targets. Trade pressures are up and trending. Volumes are bullish.

The next target up is 2413.

A close below 2328 could signal lower.

The averages seem stretched in terms of valuations, but selected stocks are not and the rotation to them carries this market higher – for the moment. So, yes, there will be a correction; but from where?

Market Pressures_

• Copper  went to the 2.77 target and pulled back. Gold is looking a bit stronger, needs to break thru the weekly resistance.. Silver is grinding higher but also at weekly resistance.
• Crude is stuck in the 51-54 channel. Natural gas is in a steady move down.
• The US Treasury futures are in a small move up in price, but support is nearby and could be broken.
• The US Dollar futures are in neutral territory.

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S&P 500 Futures_

Monthly – In the move up from the 2153 long confirmation. Trade pressures remain up. Volumes closed the month of January as bullish. The next monthly target up is 2766. A close below 2127 would confirm a new move down.

Weekly – In the move up from the 2016 2045 level. Trade pressures are up and trending. Volumes are bullish. The next weekly target up is 2487. A close below 2276 would confirm a move down.

Daily – Flat. In the move up from the 2275 long entry. Trade pressures are up and extended. Volumes remain bullish.

At the 2351 target, expect consolidation and retracement here. The next target up is 2413.

This low volume market is concerning. A close below 2312 would signal a new move down.

 

Market Pressures_  #tradesummary

Copper avoided the sell stop and rallied past resistance. Gold started a second leg up from the 1205 entry level. Silver ground higher, but seems to be running out of momentum.

Crude oil still in the 51-54 channel. Looking for a breakout either way. Crude closed Friday near the upper bound.

Natural Gas remains in sell mode.

The US Treasury bonds are trying to rally price. But the US Dollar futures are rallying and that would put downward pressures on the bond price and upward pressures on rates.

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S&P 500 Futures_  #eminifutures #spfutures

Monthly – Remains in the move up off the 2152 monthly long confirmation. Trade pressures are up and trending. Volumes closed the month of January as bullish for the tenth month in a row.  2788 is the next monthly target up. A close below 2094 would confirm a new monthly move down.

Weekly – Have reached and exceed the 2305 target. Trade pressures are up and trending. Volumes remain bullish. Much higher targets at 2487 and 2512. A close below 2243 would confirm a new move lower.

Daily – Flat. This slow grind up from the beginning of the year has finally resulted in a breakout to the upside. Trade pressures are up. Volumes remain bullish.

The 2307 long term in place since last summer was reached. The next target up is 2351.

A close below 2278 will signal lower.

Market Pressures_  #tradesummary

Copper has pulled back with the rally in the dollar. Gold is looking for a new move up as global insults fly.  Silver is tentatively up but can’t follow thru.

Crude oil is drifting with a downward bias. Natural gas has turned back down.

The 30 yr T-bonds are setting up for higher rates.

The US Dollar futures are still in the move down, but have shown attempts to rally.

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S&P 500 Futures_  #eminifutures #spfutures

Monthly – In the move up from the long confirmation at 2152. Trade pressures are up. Volumes closed the month of January as bullish. The next target up is 2768. A close below 2078 would confirm lower.

Weekly – Near to the upside target of 2305. Trade pressures are up and trending. Volumes remain bullish. The next target up is 2487. A close below 2227 would signal lower.

Daily – Flat. In the move up from the 2275 breakout. Trade pressures are down but rising. Volumes have changed to bullish.

The next target up is 2305, then 2351. Expect consolidation and retracement at 2305.

A close below 2260 would signal lower.

Market Pressures_  #tradesummary

• Copper is the long trade. Gold and silver are pulling back after a move up.
• Crude is neutral with no volume in either direction. Natural Gas is still in a long trade but a bit sloppy.
• The US treasury futures are Flat, but looking for a new long entry.
• The US dollar remains in the move down to the 98.00 area.

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S&P Futures_  #emini #spfutures

Monthly – In the move up confirmed at the 2164 crossover. The next monthly target up is 2779. Trade pressures are up. Volumes closed the month of December as bullish.

A close below 2078 would confirm lower.

Weekly – In the move up from the 2045 2016 long confirmation. the next target up is 2305 where consolidation would be expected. Trade pressures are up and extended. volumes remain bullish.

A close below 2227 would confirm lower.

Daily – Flat. In the move up from the long entry of 2275. Trade pressures are up. Volumes have changed from bullish to neutral.

The next target up is the weekly 2305 and the daily 2351.  Expect consolidation and possible retracement at the 2305.

A close below 2260 would signal lower.

Market Pressures_

• Copper is in a move up, Gold is still in the long trade. Silver is at long entry levels but the trade pressures are too high.
• Crude oil is showing a new long entry signal but the weekly pressures say, not yet. Natural gas is in a long trade but looks close to getting stopped out for a loss.
• The US Treasury bonds were stopped out for a break-even, looking of a re-entry after some retracement.
• The US Dollar futures are in a move down with more to go. The new administration is not exuding confidence.

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S&P 500 Futures_

Monthly – The move thru 2164 three months ago confirmed the move up. Trade pressures remain up and trending. Volumes closed the month of December as bullish.

Weekly – The prior highs were tested last week and found resistance, Trade pressures are up and trending. Volumes remain bullish. The next target up is 23.05. A close below 2200 would confirm any daily move lower.

Daily – Flat. Have been moving sideways in a narrow channel these last two weeks. Trade pressures are down but rose to touch the neutral zone last week. Volumes closed the week as bullish.

The new President is now installed, but administration policies are uncertain and varied.

The next target up is 2283; need a move above 2272 to get that going.

A close below 2252 would signal lower.