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.

The updated trade results based on the South Ocean Buy-Sell Levels are available.

Market Pressures_

Copper still in the move up, but should be taking profits. Gold is in a new move up. Silver is signaling anew long trade.

Crude has moved down sharply. Natural gas has followed Crude down; both look to consolidate.

The Treasury complex continues to decline in price.

The US Dollar futures are retracing after the move up.  The election results will show up in this bellwether.

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S&P 500 Futures

Monthly – November continues the three months of decline. Trade pressures are up but declining. Volumes closed the October month as bullish.

Weekly – The 2112 short confirmation level has finally given way. Trade pressures are down. Volumes are now into the fifth week of a bearish trend.

Daily – Flat. In the move down from the 2150 short signal. Trade pressures are down and appear to be very oversold. Volumes have been bearish for 7 trading days.

The next target down is 2047.

A close above 2128 could signal a new long entry.

Market Pressures_  #tradesummary

Copper continues the move up. Gold and Silver both a moved up sharply on the GDP improvement and perhaps the new uncertainties in the Presidential election.

Crude is signalling a new move down. Natural gas could be bottoming with a new long entry nearby.

The 30 Year Treasuries continued their move down in price.

The US Dollar futures are holding at the upside target levels. Perhaps some retracement will begin with the new election issues.

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S&P 500 Futures

Monthly – Headed for a lower close from last month. Trade pressures are still up. Volumes closed as bullish for the September month.

Weekly – The short confirmation of 2112 seems to be an attractor. Trade pressures are down. Volumes remain bearish.

Daily – Flat. The improving GDP offers some explanation as to why this market has been so resilient. Trade pressures are down. Volumes are mixed bullish to bearish.

The 2152 long entry trigger is still active.

A close below the September lows will signal lower.

Market Pressures_

Copper is consolidating at a downside profit target, but pressures are still down. Gold and silver are rallying into resistance.

Crude is struggling to reach the 53 profit target. Natural Gas has increased volatility and in a 30 cent pullback from a profit target.

The 30 year Treasury futures are in a retracement up from the 163-00 profit target; perhaps more to go on the downside.

The US Dollar futures are up sharply, seemingly aimed at the 100 mark.

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S&P 500 Futures_

Monthly – No significant change. Trade pressures are up. Volumes closed the September month as bullish.

Weekly – Have been three unsuccessful tests of the short confirmation at the 2112 level over the last seven weeks. Trade pressures are down. Volumes are bearish. A break down would target the 1995 level. There are multiple support levels at the 2077 uptrend support.

Daily – Flat. In the downtrend established in early September. Trade pressures are neutral, perhaps with an upward bias. Volumes are mixed bullish to neutral.

The next target down is 2099.

Need a close above 2152 to restart a move up to a 2205 target.

 

Market Pressures_

Copper reversed to down quickly and Gold looks to continue lower. Silver is at a downside target and is consolidating.

Crude oil is at a profit target and appears ready to retrace some of this recent move. Natural gas is holding above the 3.00 target.

The 30 year US Treasury Bond futures have been in a summer long decline and are at a profit target.

The US Dollar futures are showing strength above the 96 breakout.

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S&P 500 futures_

Monthly – Continues in the uptrend. Trade pressures are up. Volume closed the September month as bullish.

Weekly – In a move up from the long confirmation at 2057. Trade pressures have declined into the neutral zone. Volume is bearish for the second week. A close below 2112 would confirm a move down on the daily.

Daily – Flat. two weeks of trading around the 2153 short entry has finally given way to a second move down closing under the 80 day moving average. Trade pressures are down. Volumes are mixed bullish to bearish.

The next target down is the Sept low at 2102, then 2088.

Need a close above 2143 to signal a new move higher.

Market Pressures_  #tradesummary

Copper is consolidating with a higher bias. Gold has a bit more to go on the downside. Silver is trying to consolidate, but still has lower targets.

The Crude run-up is getting extended. Natural gas looks to have some more room on the upside.

The US Treasury futures have lower targets nearby.

US Dollar futures have had a breakout to the upside and are close to upside targets.

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S&P 500 Futures_  #eminifutures  #spfutures

Monthly – Interestingly the net volumes for all months except one have been bullish. Trade pressures are up. Volumes closed the month of September as bullish.

Weekly – These last three weeks have risen off the 2112 short confirmation level. Trade pressures are now down just below the neutral zone. Volumes have been mixed neutral to now bearish.

Daily – Flat. There is a downtrend line from the Sept 8th high pivot that has acted as resistance for all the Sep-Oct rallies. This week’s price action touched the 2120 target. The next target down is 2088.

A close above 2152 would signal higher.