Market Pressures_  #tradesummary

• Copper is in a new move up. Gold remains in the long trade with stops at the break-even. Silver is trying to move into a new long trade but the pressures are extended.
• Crude Oil is in a weekly downtrend and the daily is moving sideways. Natural gas is signaling a new move up.
• US 30 year Treasuries are in a new long trade with tight stops.
• The US Dollar futures are still in a move down from the recent highs.

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S&P 500 Futures_

Monthly – In the move up. Trade pressures are up and trending. Volumes remain bullish.

Weekly – In the move up from the long confirmation at 2045. Trade pressures are up. Volumes are bullish and rising.

Daily – Flat. In the move up from 2205. Trade pressures are up but declining; also showing divergence with lower highs. Volumes remain bullish.

The next target up is 2289; should take that profit if long with the trade pressures declining.

A close below 2252 is still a signal for lower. Earnings season starts on the 24th with the Alcoa earnings report.

Market Pressures_  #tradesummary

• Copper is in consolidation, but now with some upward bias. Gold is in a new long trade. Silver is trying to break out above resistance.
• Crude is up against weekly resistance and showing higher targets. Natural gas is in a pull back and at a lower target.
• The US 30yr Treasury is in a new long moving up with Gold. The US Dollar futures have turned lower with continuing downward pressures.

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S&P 500 Futures_ ESH17  #eminifutures #spfutures

Monthly – Still in the uptrend and in the confirmed move up from the 2153 level. Trade pressures are up. The December volumes closed bullish.

Weekly – New highs once more. Trade pressures are up. Volumes remain bullish. 2200 is the level to watch; would confirm a move lower.

Daily – Flat. Broke out above the resistance line at the end of the week. Trade pressures have turned back up. Volumes continue to be bullish.

The next target up is 2306 with MACD resistance at 2289.

A close below 2251 would signal lower. Set any stops here.

Market Pressures_  #tradesummary

• Copper in a downtrend and moving side ways over to the downtrend line. Gold consolidated at the 1129 target lows and is approaching a new long entry. Silver is down and in consolidation at the 15.69 level.
• Crude is up against the weekly downtrend resistance with targets in the 57’s. Natural gas reached the upside targets and is in a retracement.
• The US Dollar futures are retracing after reaching the 103 highs. US 30yr Treasury bond futures are approaching a new long entry.

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S&P 500 Futures_  #eminifutures #spfutures

Monthly – In a new monthly move up from the 2164 confirmation. New highs this month. Trade pressures are up and trending. Volumes remain bullish at the December close and have closed bullish for nine months in a row. A break of 2052 would confirm lower.

Weekly – In the move up from the 2048 long confirmation. Trade pressures are up and nearing indicator highs. Volumes have changed to neutral. Jan 13th is a Fib time extension target.

Daily – Flat. Still in the move up from the election. Trade pressures are down into the neutral zone. Volumes closed the last trading week of the year as bearish in very light trading.

The next target up is 2283 which would be roughly equivalent to the DOW 20,000 level.

A close below 2233 is the new short signal and the market closed just above that level.

However, It is best to let the market reset after a low volume Christmas holiday. One small business  channel check from BW indicates that the December holiday sales might be much better than expected.

Market Pressures_ #tradesummary

• Copper is in a short trade. Gold has reached the weekly target. Silver is following gold, looking lower.
• Crude has a higher target but is conflicted. Natural gas has turned higher but is facing resistance.
• The US Treasury Bond prices still show some downside, but some buying may be coming in.
• The US Dollar futures have one more target higher.

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S&P 500 Futures_  #eminifutures  #spfutures

Monthly – Showing higher after the close last month above the new long confirmation level. Trade pressures remain up. Volumes closed the month of November as bullish.

Weekly – Lower high this week from last. Trade pressures are up. Volumes remain bullish, but very light as the holidays approach.

Daily – Flat. In the move up from the 2123 long entry. Trade pressures are up but declining. Volumes are neutral and very light.

The next target up is the 2283 level and after that is the important 2307 level.

A close below 2233 would signal lower.

Any run up to the 20,000 level on the Dow Jones Average is likely to be constrained by these upside targets. The 2283 is roughly the same S&P 500 level where the DOW would be at 20,000. There is also a DOW target of 21,048; that could be the one the market reaches for after a 20,000 break.

But as all things must come to an end, the question is always “Where?”.

Market Pressures_

Copper has signaled a new short entry. Gold hit the weekly downside targets. Silver still in the downtrend, but showing some divergences.

Crude Oil is pulling back and is looking for a short signal. Natural Gas looks very similar to crude.

The US Treasury prices are still in the move down. No sign of a reversal just yet.

The US Dollar futures are consolidating at these new highs.

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S&P 500 Futures_

Monthly – Trend is up. Trade pressures are up. Volumes closed the month of November as bullish.

Weekly – Trend is up. Trade pressures remain up. Volumes are bullish.

Daily – Flat. In the move up from the 2123 entry level. Trade pressures are up but showing some divergence. Volumes are neutral these last two days of the week.

The next target up is 2283.

A close below 2233 would signal lower.

Market Pressures_

Copper is testing the short entry lower after a nice run up.

Gold is looking lower. But Silver could be setting up a new long entry.

Crude Oil is in the move up but needs to break above the October highs to continue higher. Natural Gas appears to be targeting the 4.00 level.

The US 30 Treasury Bonds are still in the downtrend, but be alert for a corrective move up in price.

The US Dollar is still showing capital inflows but has resistance at the levels.

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S&P 500 Futures_

Monthly – The close above 2164 provided the monthly long confirmation. Trade pressures remain up. Volumes closed the November month as bullish.

Weekly – The downtrend caused by the election night breakdown has been reversed. Trade pressures are up. Volumes remain bullish.

The next weekly target up is 2305. A close below 2183 would signal an end to this move up.

Daily – Flat. In the move up from the 2123 level. Trade pressures are up. Volumes remain bullish.

The next target up 2283.

A close below 2217 would signal lower.

Use that short entry as a stop level, if long.

Market Pressures _

Copper is testing highs, but seems vulnerable to a retracement. Gold looks lower still. Silver may be basing.

Crude Oil has had a sharp move up, and 54.00 seems to be the target. The long trade in Natural Gas is working nicely, raise your stops.

The FED is signaling the rate hike but any incipient inflation seems to be fully discounted in the 30 YR US Treasury bond futures. Look for a rally.

The Us Dollar futures have stared a small retracement down.

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S&P 500 Futures_

Monthly – Holding at the new highs. Trade pressures are up but showing a slight decline. Volumes closed the month of November as Bullish.

Weekly – Made a small new high then pulled back, Trade pressures are up. Volumes remain bullish. The next target up is 2310. A close below 2141 would confirm a new move down in the daily.

Daily – Flat. The 2208 target was met and is acting as resistance. Trade pressures are up but rolling over. Volumes have changed to bearish.

The next target up is 2244.

The new short entry is 2174.50.

The stop will be the 2213.75 high.

 

Market Pressures_

Copper has started a new leg up. Gold may have another 50 points to the downside. Silver is trying to setup for a new move up.

Crude Oil moved up off the first downside target but met resistance above at the downtrend line. Natural Gas is in a decisive move up, running counter to Crude Oil.

The 30 Treasury Bonds have sold down to a major target level. Expect some consolidation here and a possible retracement.

And the US Dollar futures are showing the obverse of the T-Bonds; now at a high target also expecting consolidation and retracement down from these highs.

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S&P 500 Futures_

Monthly – Appear to have trade up and out of the consolidation that began in the summer of 2015. Trade pressures are up. Volumes closed the month of October as bullish.  A new monthly long entry has been signaled at 2169.

Weekly – Moved up into new highs while taking out the 2188 upside target. Trade pressures are up and just breaking out of the neutral zone. Volumes are once again bullish. The next target up is 2310.

Daily – Flat. In the move up from the 2130 entry price. The 2208 target was met this week. Trade pressures are up and trending. Volumes are bullish and declining.

The next target up is 2238.

A close below 2179 would signal lower. Use this 2179 level as a Stop.

Market Pressures_

Copper is retracing but still in the move up. Gold and Silver are still in a move down.

Crude oil and Natural gas are both in a retracement move up inside the larger move down.

The US Treasury prices are down hard, but appear to be reaching oversold territory.

The US Dollar futures are, conversely, reaching new highs but showing some divergences.

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S&P 500 Futures_

Monthly – In the uptrend since the 2011 mid-year low. Trade pressures are up but rolling over. Volumes closed the October month as bullish.

Weekly – Approaching new highs. Trade pressures are down but rising into the neutral zone. Volumes have changed from bullish to neutral suggesting some distribution here.

Daily – Flat. In the move up from the 2130 long entry. Trade pressures are up and trending. Volumes remain bullish but with declining daily volumes.

Have reached the 2183 target and experiencing some consolidation. The next target up is 2208.

A close below 2154 could signal a retracement.

Market Pressures _

Copper moved up sharply after a breakout of the weekly downside resistance before profit taking set in Friday. Gold reversed to the downside and set up a  new short trade. Silver has pulled back below the new long entry.

Crude reached the first profit target. Natural Gas fell with Crude and is approaching the last short profit target.

The US Treasury Bonds have dropped sharply is price as markets anticipate government deficit spending financed by borrowing to stimulate the economy.  The equity markets seem to like this deficit spending.

The consequent rise in interest rates have attracted funds to the US Dollar. The US Dollar futures have risen sharply.

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S&P 500 Futures_

Monthly – The short confirmation level for the monthly is 1965. Trade pressures are up but rolling over. Volumes closed the month of October as bullish, the seventh month in a row.

Weekly – In a new downtrend the week prior with the close below the 2112 short confirmation level. The election night spike down was reversed is the morning hours allowing the week to close up. Trade pressures are down but flattening out. Volumes have changed from bearish to bullish.

Daily – Flat. The overnight spike down of 100 S&P points shook the markets, but at the end the effect was neutralized. Trade pressures are up. Volumes have changed from bullish to neutral.

The close above 2130 was a new long entry, but one had be ready in the overnight markets to take advantage.

The next target up is 2183.

The view that the markets are now rotating into growth sectors which is moving previously dormant sectors up is predicated on fiscal measures and policies that have not yet materialized.  The likelihood of a pullback from this euphoria is high.

A close below 2147 could signal that pullback with a possible target of 2095.