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.

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.