S&P 500 Futures_ ESZ16 #eminifutures #spfutures
The contract has rolled to the Dec’16 expiration. New levels are below.
Weekly – Trade pressures are down. Volumes are down.
Daily – Short. Trade pressures are up, but declining. Volumes are Bearish.
The short entry was 2150.
The next target down is 2099.
Stops are the 2150 entry price.
A close above 2156 would signal a resumption of the upmove.
Market Pressures_
Copper and Gold in downtrends but showing some resiliency. Silver in a new uptrend.
Crude Oil is caught in two opposing cycles, one up and one down. Natural Gas is in a long cycle but without conviction.
The 30 year US Treasury Bond Futures have broken down as the prospect of a FED 1/4% rate increase gets more attention.
The US Dollar futures are rising after testing support this last week.
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S&P 500 Futures_ ESU16 #eminifutures #spfutures
Monthly – The 2191 levels have acted as resistance. 1970 is the monthly confirmation level for any down-move. Trade pressures are up. Volumes closed the month of August as bullish.
Weekly – Sharp move down this week. The 2114 close is below the 2118 weekly confirmation for a short. Trade pressures are up but rolling over. Volumes have changed from bullish to bearish.
Daily – Short. Trade pressures are down just thru the neutral zone. Volumes closed the day as very bearish.
The decisive move down thru the 2157 short entry sets up the first downside target of 2106. The next target down is 2053.
Stops now at the entry price of 2157.
The large moves in all classes suggest large index ETF shorts were put on, thereby forcing the ETF managers to sell the names inside the ETF to offset the trade.
A close above 2162 will be required to restart the move up.
Market Pressures_
Copper is looking lower. Gold and silver have dropped thru the support lines but are showing bullish volumes.
Crude Oil has pulled back enough to stop out the long trade; could still go higher. Natural Gas is in the long wide channel started in July.
The 30 year US Treasury futures had a month of sideways trading that ended in a loss at the contract expiration.
The US Dollar Futures explain most of the August months trading action. First a move down into the 94 area which had the metals and oil moving up then the last two weeks of US dollar rally which turned those same futures down again. And, it doesn’t help that the summer volumes are low and volatile.
The Virtual Portfolio results YTD thru August are available in Trading Results 2016 #tradingresults.
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S&P 500 Futures_ #SPfutures #eminifutures
Monthly – A 110 point trading range for the prior month and a 50 point trading range for August. Trade pressures are up. Volumes closed the August month as bullish.
Weekly – Still trading close to the 2190 highs. Trade pressures are up. Volumes are bullish.
Down thru 2118 would signal lower.
Daily – Flat. Listless trading for the month. Trade pressures are rising up thru neutral. Volumes were mixed bearish to bullish.
The 2188 upside target has acted as resistance.
A close below 2158 would signal lower.
The September FED meeting will dominate the airwaves. But watch the US Dollar futures flows for real news.
Market Pressures_
The month of August is usually a month of low volumes and higher volatility. No exceptions this year.
Copper has retreated to a downside target and looks lower. Gold has stopped out the long trade for a loss. Silver is pressing down.
Crude oil is still in the long trade and profitable. Natural Gas had a very good week, trading up thru the 2.79 long entry an now near the 3.00’s.
The US 30 year Treasury bond has held above the long stops and is attempting a rally.
The US Dollar futures have rallied off the $94 support line with pressures suggesting higher. Metals and Treasuries will be affected.
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S&P 500 Futures_
Monthly – Remains in the uptrend. Trade pressures are up. Volumes closed July as bullish.
Weekly – in the weekly move up set at the late April close. Trade pressures are up.Volumes remain bullish.
Daily – Flat. The daily price is reacting to resistance at the 2188 upside profit target. Trade pressures are up but diverging. Volumes have changed from bearish to neutral.
A close below 2153 will signal lower.
Market Pressures_
Copper has been wandering but may be near a new long entry. Gold is still in the long trade looking for a breakout. Silver is down.
The long Crude Oil trade is working well. No trade in Natural Gas.
The long 30 year T-Bond trade is underwater.
The US Dollar is in a down move.
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S&P 500 Futures
Monthly – The new monthly long entry is 2178. Trade pressures are up. The July volume close was bullish.
Weekly – Another higher close. Trade pressures are up. Volumes closed as bullish.
Daily – Flat. Touched the 2188 target this week but no follow thru yet. Trade pressures are down into the neutral zone. Volumes remain bullish.
The next target up is 2251.
A close below 2156 would signal lower. These declining trade pressures are warnings.
Market Pressures_
Copper remains in a move down. Gold is in a long trade. Silver is consolidating around the $20 price.
Crude has triggered a new long entry. Natural gas is testing support at the 2.47 level.
The 30 year Treasury Bond is in a long trade but finding the going volatile.
The US dollar futures are in the $95-$96 trading channel.
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S&P 500 Futures_ ESU16 #eminfutures
Monthly – Remains in the long term uptrend. The multi-year cycle is nearing a new long entry; need a monthly close above 2178. trade pressures are up. Volume closed the July month as bullish.
Weekly – Now at a cluster of three upside targets. Expect consolidation here and a possible retracement. Trade pressures are up but showing divergences. Volumes remain bullish.
Daily – Flat. Near the the 2188 upside target; that combined with all the weekly resistance makes any new move up difficult. Trade pressures have risen up from the neutral zone. Volumes remain bullish.
A close below 2149 would signal lower. That same 2149 is a downside target for a small retracement, so the decision will depend on the trade pressures at that level.
Low volume August days are difficult to trade. Be careful.
Market Pressures_
Copper is is a new move down. Gold and Silver have attempted a new long entry but have pulled back almost immediately.
Crude appears to have finished the move down and is setting up for a new move up.
The 30 year Treasury Bonds have signaled a new move up but also have pulled back with the jobs report.
The US Dollar futures are beginning some consolidation at the $95 level.
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S&P 500 Futures_
Monthly – At a new monthly long entry price of 2174 which is also the final upside target for longer cycles. Expect consolidation. Trade pressure are up. Volumes closed the month of July as bullish.
Weekly – At the multiple target mentioned last week. Again, expect consolidation. Trade pressures are up but diverging. Volumes remain bullish.
Daily – Flat. At the upper range of the trading band. Trade pressures are down into the neutral zone. Volumes have changed to bullish with the Friday Jobs Report.
The next target up is 2188.
A close below 2145 could signal a new move down.
Market Pressures_
Copper is in a new move down. Gold and silver are approaching new long entry levels.
Crude continues the move down to the 38-39 level. Natural gas is rising to test the 2.96 highs.
The 30 year Treasury Bond has risen in price to a new long entry with a target above prior highs.
The US Dollar futures are now in a new move down.
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S&P 500 Futures_
Monthly – This week closes the July month. Multiple upside targets have now been met. Trade pressures are up. Volumes are bullish.
Weekly – The cluster of targets at 2180,2173,2174 are all attractors, but will ultimately act as resistance. Trade pressures are up but diverging. Volumes remain bullish.
Daily – Flat. Trapped in this low volume band between 2150 and 2170. Trade pressures are up and beginning to be extended. Volumes are mixed bearish to bullish.
2188 is the next target up.
A close below 2138 would be a new short signal.
Market Pressures_
Copper is in a move up. Gold and silver are retracing the recent move up.
Crude is in a move down but now at a target that could suggest a reversal. Natural gas has been moving sideways but is showing signs of a new move up.
The US 30yr Treasury bond is in a short trade from higher.
The US Dollar futures are in a new move up toward the 98 target.
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S&P 500 Futures
Monthly – Another monthly high. Trade pressures are up. Volumes closed the June month as bullish. July volumes are well below the prior months.
Weekly – The weekly close at 2170 is very near the 2174 and 2180 upside targets. Trade pressures are rising up thru the neutral zone. Volumes closed as bullish.
Daily – Flat. In the move up from the 2060 long entry. Trade pressures are up and trending. Volumes remain bullish although lite.
The next target up is 2188.
A close below 2135 could signal a new move lower.
Market Pressures_
Gold in a move down. Copper in a move up. Silver consolidating after its move up.
Crude in a move down. Nat Gas in a unconvincing short.
US 30yr Treasury prices are in a move down.
The US Dollar futures are consolidating at the 96 level.
The Turkish coup attempt should send funds to safe haven trades.
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Monthly – Five months of bullish bars. Trade pressures are up. The June month closed as bullish.
Weekly – new highs at 2168. The next targets up are 2180. Trade pressures are in the neutral zone and rising. Volumes are bullish. A close below 2095 would confirm a new move down.
Daily – Flat. Have reached the 2164 retracement target. Trade pressure are up and extended. Volumes remain bullish.
The next target up is 2188.
A close below 2133 could start a retracement down to 2030.