Market Pressures_

Copper continues the move down. Gold and Silver are now in a new short trade.

Crude Oil is still in the move up. Natural gas is trying to establish a base in this long downtrend.

The US 30 year Treasury Bond is in a new short trade.

The US Dollar Futures are also trying to establish a base in the downtrend.

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S&P 500 Futures_

Monthly – The move up continues. Trade pressures are up. Volumes closed the month of August as bullish. The next target up is 2766. A close below 2285 would confirm any Weekly move lower.

Weekly – Price has broken above the 2484 target level. Trade pressures are up. Volumes remain bullish. The next target up is 2729. A close below 2433 would confirm any Daily move lower.

Daily – Flat. In the new uptrend started 9-12-17. Trade pressures are up. Volumes are bullish with a slow decline in daily volumes.

The next target up is 2522.

A close below 2487 would signal lower.

The moving averages are flat showing no momentum, yet we grind higher each day.

Market Pressures_

Copper has turned down. Gold and Silver are reaching for old high pivots.

Crude oil has turned down stopping out the trade for a small gain. Natural gas is un-tradeable.

The US 30 year Treasury Bond futures are now at a target that should result in consolidation.

The US Dollar futures are accelerating the decline.

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S&P 500 Futurues_

Monthly – Off the August highs. Trade pressures are up. Volumes closed the month of August as bullish.  The next monthly target up is 2766. A close below 2265 would confirm any weekly move lower.

Weekly – In five weeks of consolidation after reaching the 2484 level. Trade pressures are down into the neutral zone. Volumes are bullish. The next target up is 2729. A close below the 2416 level would confirm any daily move lower.

Daily – Flat. Still in the downtrend established in early August, but In the countertrend  move up from the 2455 level. Trade pressures are down into the neutral zone. Volumes are bullish.

The next target up is 2522.

A close below 2415 would signal lower.

 

Market Pressures_

• Copper extends the move up, setting new two year highs. Gold has moved up and out of the 1200-1300 channel. Silver moved up above the 17.30 first target.
• Crude Oil is approaching a long entry price. Natural Gas has moved up and out of the consolidation at 2.95.
• The US 30 year Treasury Bonds is in a new uptrend but showing divergences.
• The US Dollar futures remain down but are also showing divergences, hinting at a new move up.

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S&P 500 Futures_

Monthly – August closed with a slight 2 point gain. Trade pressures are up. Volumes closed the month of August as bullish. A close below 2267 would confirm any weekly move lower.

Weekly – Rallied into the close of the week. Trade pressures are down into the neutral zone – negative divergence. Volumes changed from bearish to bullish. A close below 2416 would confirm any daily move lower.

Daily – Long. The close above 2460 triggered the new long entry. Trade pressures are up. Volumes are bullish.

The time cycles are up until the 27th of September.

The next target up is the previous high at 2488, then 2522.

A close below the 25×5 moving average at 2456 would be a good stop.

[Monday 9-4-17: Raise stop to 2460.] [AM later: Now out at the 2460 breakeven.]

 

 

Market Summary_

Copper in the second leg of a move up that started after the election. Gold is in the 1200-1300 channel. Silver is at weekly resistance.

Crude oil is pulling back to a long  entry point, but is still in the weekly downtrend. Hurricane confusion, perhaps. Natural Gas started a move up but that has stalled.

The US 30 year Treasury Bond is in a slow move up, not enough momentum for a trade.

The US Dollar futures are consolidating at the recent lows.

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S&P 500 Futures_

Monthly – Looking to be the first down month in 5 months. Trade pressures are up. Volumes closed bullish for the July month. A close below 2267 would confirm a weekly move down. August is the first month with a trading loss this year for the SOM virtual portfolio.

Weekly – With a recent high of 2488.50, the weekly 2484 target appears to be the resistance. Trade pressures are down into the neutral zone. Volumes have changed from bullish to bearish over the last three weeks. A close below 2416 would confirm a Daily move lower.

Daily – Flat. In the move down from 2468. Trade pressures are slightly up, rising out of the neutral zone. Volumes are now bearish at the close of the week.

The short trade was stopped out at the 2471 stop for a loss. The market then continued down.

The next target down is 2408.

A close above 2460 would signal a new move higher.

 

Market Summary_

Copper has continued the move up with the market. Gold tried to turn down but rising global tensions caused both gold and silver to rally.

Crude Oil has flattened out into the $48-$50 range. Natural gas is in a small move up.

The US 30 year Treasury Bonds have rallied, but volatility makes momentum difficult to discern.

The US Dollar futures are consolidating at these $92 lows.

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S&P 500 Futures_

Monthly – New monthly highs. Trade pressures remain up. Volumes closed the month of July as bullish. The next target up 2766. A close below 2267 would confirm any weekly move down.

Weekly – The last four weeks have seen four attempts to break out above the 2484 level. Trade pressures are up but with a slight decline. Volumes have changed to bearish. The next weekly target up is 2729. A close below 2416 would confirm any daily move lower.

Daily – Short. In the move down from the 2460 level. Trade pressure are down. Volumes have changed from bearish to neutral.

The next target down is 2408, which would also be below the weekly short confirmation level.

A close above 2471 would signal a new move up.

Use this 2471 as the stop for the short trade.

August is a low volume month. Just a few larger trades can move the markets. Be careful.

 

Market Pressures_

Copper is consolidating after a big move up. Gold is turning down and sliver has indicated a new short trade.

Crude has been rejected at the $50 level. Natural gas still in the downtrend.

The US 30 year Treasury bond is drifting thru the summer. The Banks are rallying , so perhaps some expectation of a rate rise.

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S&P 500 Futures_

Monthly – Nine months into this move up off the 2152 level. Trade pressures are up. Volumes closed the July month as bullish. The next monthly target up is 2768. A close below 2259 would confirm any weekly move down.

Weekly – At the 2477-2484 target area and consolidating. Trade pressures are up. Volumes are bullish. A close below 2408 would confirm any daily move down.

Daily – Flat. Consolidating around the 2474 extended target. Trade pressures are up but declining. Volumes are still bullish.

A close below 2460 could signal a move lower.

[8-10-17: Short as we pass down thru the 2460.]

[8-11-17: Lower the stop to the entry price , 2460.]

Market Summary_

Copper has had a significant move up thru expected levels. Gold continues the move up. Silver is at a target level that may provide resistance.

Crude looked lower then turned up at the 25×5 moving average. Conversely, natural gas continues lower.

The US 30 year Treasury Bond also looked higher, then broke lower.

The US Dollar futures continue the grind lower.

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S&P 500 Futures_

Monthly – The summer months continue higher. Trade pressures are up. Volumes closed the June month as bullish. The next monthly target up is 2788. A close below 2259 would confirm any weekly move lower.

Weekly – At the weekly target range of 2477-2484. Trade pressures are up. Volumes are bullish. The next target up is the 2484 level. A close below 2408 would confirm any daily move down.

Daily – Flat. In the move up from the mid-April 2397 level. Trade pressures are up but declining. Volumes remain bullish.

The next daily target up is 2522.

The mid week wide-ranging bar had a spike down to 2457 with increased volume. There is also a short entry level at 2460. A close below those levels would signal lower.

Market Pressures_

• Copper is consolidating at the upside target. Gold and Silver are in a move up; follow with tight stops.
• Crude oil was stopped out of the short trade, but look for a re-entry. Natural gas is pulling back inside the larger move up.
• The US 30 year Treasury is in a new long trade.
• The US Dollar futures continue to decline, reaching new lows.

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S&P 500 Futures_

Monthly – The uptrend continues. Trade pressures are up. Volumes are bullish. The next target up is 2788. A close below 2255 would confirm any weekly move lower.

Weekly – At the 2477 upside target. Trade pressures are up and trending. Volumes remain bullish. The next weekly target up is 2484. A close below 2403 would confirm any daily move lower.

Daily – Flat. At the 2474 target. Trade pressures are up and extended. Volumes are bullish.

The next target up is 2504.

A close below 2456 would signal a short cycle move lower.

Earnings continue to impress, so this August may not be as quiet as usual.

Market Pressures_

• Copper in neutral, with a bias to the upside. Gold and Silver have signaled higher.
• Crude is still in a short position but momentum seems to against the trade. Natural gas is looking higher also.
• The US 30 year Treasury Bonds has had a move up, but no trade signaled, up or down.
• The US Dollar futures continue the move down.

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S&P 500 Futures_

Monthly – A new monthly high at 2461.25. Trade pressures are up. Volumes closed the month of June as bullish. the next monthly target up is 2766. A monthly close below 2240 would confirm any weekly move lower.

Weekly – New momentum. Trade pressures remain up. Volumes have changed from neutral to bullish. The next target up is 2477-2484. A close below 2388 would confirm any Daily move lower.

Daily – Flat. The prior week attempt at a new short has been voided by this move in to new highs. Trade pressures are up and trending. Volumes are bullish.

The next daily target up is 2464.

A close below the 25×5 moving average would signal lower.

Summer trading is showing declining volumes, so be careful.

Market Pressures_

• Copper has pulled back to the 25×5 moving average, look for a possible short entry. Gold and Silver are accelerating the move down.
• Crude Moved up to test the 25×5 moving average and is now pulling back and has triggered a new short. Natural gas is continuing to generate new lows.
• The US 30 year Treasury Bonds continue the move down, but set some tight stops.
• The US Dollar futures are still in the move down but experiencing some consolidation at the 95.50 level.

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S&P 500 Futures_

Monthly – The monthly trading range has narrowed significantly. Trade pressures are up. Volumes closed the month of June as bullish. The next monthly target up is 2768. A close below 2230 would confirm any weekly move down.

Weekly – Trading below the prior weekly closes. Trade pressures are up but showing some divergences. Volumes have changed from bearish to neutral. The next target up is 2477. A close below 2379 would confirm any Daily move down.

Daily – Flat. The 2432 short entry produced the expected move down but after moving the stop to break-even, the trade was stopped out for no gain. Trade pressures are in the neutral zone which may account for the lack of follow thru. Volumes are bearish.

Look for a re-entry in to the short on any rally without bullish volumes.

Void this re-entry if the old 2451 high pivot is taken out.

The next target up is 2474.