Market Pressures_

• Copper has had an uneven rally off the 2.48 lows. Gold and Silver are in a second leg down.
• Crude oil has had six day rally. Natural gas attempted a rally but it has failed.
• The US 30yr Treasury has had a nice move down with a 152 target nearby.
• The US Dollar futures tried to breakout to the upside but failed and moved lower towards the 94.50 target.

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S&P 500 Futures_

Monthly – The move up that started in the summer of 2015 continues. Trade pressures are up. Volumes closed bullish for the month of June.  2766 is the next monthly target up. A close below 2230 would confirm a weekly move down.

Weekly – The weekly has been in consolidation for the last four weeks. Trade pressures are up but showing divergence. Volumes closed the week as bearish for the first time in nine weeks. The next target up is the 2477-2482 area. A close below 2379 would confirm any daily move down.

Daily – Short. The close below the 2432 level has triggered the short trade. Trade pressures have risen into the neutral zone. Volumes are neutral.

The next daily target down is the 2401 profit target.

Lower stops to the high of the 6/29 down bar, 2445.

[7-5-17: Lower stops to the 2432 break-even.]

[7-5-17: stopped out for the breakeven in the afternoon trading.]

[This down cycle ends 7-11-17, so take the profit at the 2401 profit target,if met.]

Market Pressures_

Copper is moving up and out of the consolidation. The Gold move down produced a nice profit and is now in a retracement. Silver remains in the move down.

Crude may have bottomed; at least showing some support here. Natural gas is in a similar move.

The US 30 year Treasury Bond is continuing the move up in price.

The US Dollar futures are now above the 25×5 moving average indicating a retracement to the upside.

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S&P 500 Futures_

Monthly – Continuing the bullish move up. Trade pressures are up. Volumes closed the May month as bullish. 2766 is the next monthly target up. A close below 2230 would confirm any weekly move down.

Weekly – Another new weekly high. Trade pressures are up. Volumes are bullish. The next weekly target up is 2477. A weekly close below 2379 would confirm any daily move down.

Daily – Short. The Thursday close below 2431 has triggered the short position. Trade pressures are down. Volumes are bullish.

The next target down is 2411.

The stop is the 2451 high pivot.

Since there is no bearish volume, move the stop to break-even quickly.

[6-28-17: the 25×5 moving average has acted as support at 2413 just above the first profit target of 2411.]

Market Pressures_

• Copper has lost momentum and is in consolidation. Gold continues the move down with profit targets close by. Silver is in a move down.
• Crude Oil is in a new move down. Natural Gas is also in a decline.
• The US 30 year treasury Bond is in a rally.
• The US Dollar futures are consolidating at these lows.

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S&P 500 Futures_

Monthly – Continues the move up. Trade pressures are up. Volumes closed the month of May as bullish. The next monthly target up is 2766. A close below 2222 would confirm any weekly downtrend.

Weekly – Also in the move up. Trade pressures are up. Volumes are bullish. The next weekly target up is 2477. A close below 2371 would confirm any daily short move.

Daily – Flat. In consolidation after the recent rally to 2443. Trade pressures are down into the neutral zone. Volumes are still bullish.

The next short level is 2424. The daily trade have been down thru this level intraday three times, but has not closed below.

The next target down would be  2393.

The stop would be the 2443 high.

Market Pressures_

• Copper has rallied into a new long trade. Gold is now a short trade and the previous Silver long position has been stopped out with a fair gain.
• Crude is now consolidating at a profit target with more targets lower. Natural gas may test the February lows.
• The US 30 year Treasury Bonds have turned down into a new short position.
• The US dollar futures are still looking lower.

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S&P 500 Futures_  ESU17  #eminifutures

Monthly – The 16 month long uptrend continues. Trade pressures are up. Volumes closed the June month as bullish. 2222 is the confirmation level for any Weekly move down.

Weekly – Another new high. Trade pressures are up and slightly rising. Volumes remain bullish. 2371 is the confirmation level of any Daily move down.

Daily – Flat. A wide ranging day, perhaps signifying an change in trend or at least indecision. Trade pressures are up but turning down. Volumes remain bullish and closed the week on high volume.

Still in the move up, with the next target up at 2474.

A close below 2424 would signal lower. Watch the intraday moves for further indications.

Might want to tighten stops on any US equity long trading positions.

Market Pressures_

Copper futures are in consolidation as the jobs report is mixed. Gold rallies. Silver is moving up again after a small pullback,

Crude oil is down and looking lower. Natural Gas has accelerated its move down after the 3.21 level was breached.

The US 30 year T-Bond is in a sustained rally.

The US Dollar futures continue their decline.

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S&P 500 Futures_

Monthly – The month of May continues the bullish trend. Trade pressures are up. Volumes closed the May month as bullish. A close below the 2218 level would confirm any weekly move down.

Weekly – Continuing the breakout from last week. Trade pressures are up, but showing negative divergences. Volumes remain bullish.

Daily – Flat. In the rally from the 2363 long entry level. Trade pressures are up. Volumes are bullish.

The 2399 gave added confirmation to the move up.

The 2424 target was reached quickly and did not offer any resistance.

The next target up is 2473.

A close below 2401 could signal a new move down. [6-6-17: raise this sell trigger to 2419.]

Market Pressures_

• Copper could not get a move up going. Gold rallied as did Silver. The Silver long is doing well. This is a 5000 oz contract so very dollar move up is significant.
• Crude was taken at the first profit target level. Natural gas continues to be trapped in a  channel.
• The US 30yr Treasury contract was closed at a profit ahead of the roll to September.
• The US Dollar Futures remain in a decline.

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S&P 500 Futures_

Monthly – Remains in the move up. from the 2152 long confirmation in August of 2016. Trade pressures are up. Volumes close the month of April as bullish. Any close blow 2194 would confirm a weekly move down.

Weekly – In the move up from the Oct 2106 long confirmation at 2167. Trade pressures are up but declining. Volumes are bullish. A close below 2342 would confirm any daily move down.

Daily – Flat. The short signal triggered on the 17th is cancelled with the close above the old highs. Trade pressures are up. Volumes are now bullish.

The longer time cycle which produced the new long entry level at 2399 is dominating.  The next target up on that cycle is 2524.

But the next closer target up is 2424, which has been there since the first of the year.

Another close below 2385 could trigger a new short again.

Market Pressures_  #tradesummary

• Copper is in a new move up. Gold ran up to its first profit target and is now retracing that move. Silver remains in a long trade.
• Crude was sold at the first profit target for the June contract. Natural gas is still in the sideways move looking for a new long trade.
• The US 30 year Treasury Bond is moving up in a new long trade.
• The US Dollar futures are down and signaling lower.

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S&P 500 Futures_  #emini

Monthly – Remains in the move up. Trade pressures are up. Volume remains bullish. A move below 2183 would confirm a weekly move down.

Weekly – In the move up. Trade pressures are up but declining. Volumes are bullish. A close below 2332 would confirm a daily move lower.

Daily – Flat. The 2383 short level was triggered and met the 2354-2349 targets the second day. Trade pressures are down but turning up. Volumes have changed from bullish to bearish and neutral.

The next target down is 2315.

This snap back rally is retesting the short entry level of 2383. Still in the short until the old high of 2404.50 is broken. So look for a new short entry on the hourly.

 

Market Pressures_

• Copper making a double bottom with a downside target in sight. Gold remains in it’s downtrend. Silver bounced off it’s downside target, will watch for a new move up.
• Crude oil is in a new move up. Natural gas is in a new move up.
• The US 30yr Treasury Bond remains in the move down in price.
• The US dollar futures are attempting a rally, but nothing decisive.

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S&P 500 Futures_

Monthly – New monthly highs. Trade pressures are up. Volumes closed the month of April as bullish. A close below 2182 would confirm any weekly short signal.

Weekly – New weekly highs also. Trade pressures are up but showing some divergence. Volumes are bullish. A close below 2331 would confirm any Daily short signal.

Daily – Flat. The 2399 new long entry was  touched, but no close above. A short cycle short entry is at 2383 and could suggest a retracement of this move up. Trade pressures are up but rolling over. Volumes are still bullish.

The first target down would be 2354 and the 25×5 moving average.

Market Pressures_  #tradesummary

• Copper failed the long trade, but still stopped out with a profit. Gold followed suit. Silver is in a fourteen day decline and is within 30 cents of the next downside target.
• Crude dropped thru multiple targets and now has triggered a new long entry. Natural Gas is wandering but did not experience the same selloff that was seen in the Crude futures.
• The US 30yr Treasury Bond futures moved very close the downside target. Watch for any reaction to the French elections.
• The US dollar is slightly weaker and also near a downside target.

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S&P 500 Futures_  #emini

Monthly – Testing the old 2401 highs. Trade pressures are up. Volumes bullish for the 13th month in a row. A close below 2180 would confirm any weekly short entry.

Weekly – The upside targets of 2477 and 2484 are in sight. Trade pressures are up but with lower highs. Volumes remain bullish. A close below 2338 would confirm a short in the daily.

Daily – Flat. After a move down from the 2358 short entry to a 2319 target in late March, price has moved sideways until this earning season began in late April.  Trade pressures are up. Volumes turned bullish with the earnings announcements.

A close above 2399 is the new long entry.  The next target up from that entry is 2424.

A close below 2360 would signal a retracement down.

 

Market Pressures_  #tradesummary

• Copper has signaled a new long entry. Gold has attempted a breakout and has pulled back to that breakout level. Silver is in a move down.
• Crude is in the move down and seems to have bit more to go. Natural gas is consolidating after a move up to it’s target.
• The US 30 year Treasury Bond has move up in price past the 153-15 target level and is now in a retracement move down.
• The US Dollar futures remain in a move down to the 98.00 level.

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S&P 500 Futures_  #emini

Monthly – Approaching the recent highs at 2401. Trade pressures remain up. Volumes closed the month of March as bullish and appear to be on track for a bullish close for April. 2180 would confirm a weekly short signal.

Weekly – The 2338 short confirmation level was tested three times these last six weeks and has held. Trade pressures are up but declining. Volumes are declining and closed the week as neutral.

Daily – Flat. No trade is indicated. Trade pressures are up. Volumes are bullish.

A close above the 2399 could trigger a new long entry.

The 2338 level remains the short entry level.

The French elections gave hope to the Centrists that the European center will hold and the US markets gapped up on the open and followed thru with more upside the next day.  Earnings season validated the move with selected out performances in the tech sector.