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.

Market Pressures_

Gold and Silver flirting with the short signals. Copper in a move down.

Crude remains in the move down. Natural Gas has signaled a new short.

The Us 30 Year Treasury bond price hits new contract highs, be alert for a retracement.

The US Dollar futures are consolidating around the $96 area.

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S&P 500 Futures_

Monthly – 2178 is the monthly new long confirmation level. Trade pressures are up. The June month volumes closed as bullish.

Weekly – Closed above the old 2119 high of two weeks ago at 2120. Trade pressures are in the neutral zone. Volumes continue to be neutral and experienced a very low volume, holiday shortened, week.

Daily – Flat. In a move up from the 2062 long entry level. Trade pressures are up but showing some divergences. Volumes are mixed neutral to bullish.

The next target up is 2188.

Stops at the entry price of 2062.

Market Pressures_

The precious metals returned to the spike highs.

Copper reached the 2.25 target and is retracing.

Crude Oil is making lower highs on declining volumes.

The 30 year US Treasury Bond is making new highs on bearish volumes.

The US Dollar futures are settling down around the $95 price levels.

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S&P 500 Futures_ ESU16

Monthly – The June Month closed up after flirting with the 1889 short confirmation level. Trade pressures remain up. The June volumes closed bullish with higher volumes than the May month.

Weekly – A wide ranging week. Trade pressures are down into the neutral zone suggesting distribution. Volumes changed to neutral from Bearish.

Daily – Flat. The week was book-ended by the June 23 BREXIT vote and the 4th of July US holiday. Choosing to stand aside, there were no trades.

The ESU16 is in a move up from the long entry price of 2062. Trade pressures are up. Volumes are bullish.

The next target up is 2188.

Stops are the 1981.50 pivot low.

Market Pressures_

The BREXIT results surprised the market and perhaps even the “Leave” voters themselves.

Gold and Silver were in a move down and reversed sharply up. Copper was in a move up and reversed down sharply.

Crude was rising and retreated with the news.

The US Treasuries rose as a safe haven trade.

The US Dollar futures rose as the money flows came this way.

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S&P 500 Futures_

Monthly – 1889 would confirm a short move down. Trade pressures are up. The May month end closed as bullish.

Weekly – Still in in a move up confirmed by the close above 2055. Trade pressures have declined into the neutral zone. Volumes are bearish.

Daily – Short. The BREXIT drop triggered a new short at the 2036 level. Trade pressures have turned down into neutral. Volumes have changed from bullish to bearish.

The next target down is 1982 with the 1960 level just below.

1825 is the 61% target down.

1811 is the 100% target down.

Need a close above 2078 again to restart any new long trade.

“What to Expect After the Brexit is republished with permission of Stratfor.”

“Over the longer term, the main effect of the British referendum will be geopolitical. Without Britain, the European Union will be missing a liberal, market-friendly member, potentially shifting the balance of power in the bloc to the more protectionist economies in the south. This could exacerbate tension between Northern and Southern Europe, which are already at odds over issues such as the Schengen Agreement and the management of the eurozone. A European Union without the United Kingdom will also be less relevant at the international level, as the bloc is about to lose one of its few members that has a true global presence militarily, diplomatically and economically. By the time London and Brussels end the negotiations over their disconnection, the Continental bloc will look very different from how it looks today.”

“<a href=”https://www.stratfor.com/analysis/what-expect-after-brexit”>What to Expect After the Brexit</a> is republished with permission of Stratfor.”

Market Pressures _

Gold and Silver have met profit targets. Copper is looking higher.

Crude is in a move down. Nat Gas made a nice move up to meet all profit targets.

The US 30 year Treasury futures are at highs and could be ready for a short.

The US Dollar futures are grinding sideways to  lower.

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S&P 500 Futures_

Monthly – The last three months are in a tight range. Trade pressures are up. The month of June closed as bullish.

Weekly – The short confirmation level is 2038. The weekly low of 2040 came close but closed well up. Trade pressures are up but turning down. Volumes have changed to bearish.

Daily – Short. 2078 was the short entry and after lowering stops to the short entry, the trade was stopped out for no gain. Watch for another short entry.

Trade pressures are down. Volumes are mixed bullish to bearish.

[6-23-16: the BREXIT closing polls showing “remain” in the lead. The S&P 500 futures now closing above 2100; turning trade pressures up and printing a bullish volume signal.]

Market Pressures_

Copper has moved down. Gold and Silver have continued their move up.

Crude has moved up to and back down thru the $US50 target. In a retracement move now.

The US 30YR Treasury bond has moved up in price near a profit target level and appears to be over bought.

The US Dollar futures have signaled a new move down. The BREXIT vote in the UK occurs on June 23rd. Funds could flow back into the Dollar.

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S&P 500 Futures_

Monthly – Remains at the upper end of the channel. Trade pressures are up. Volumes closed the month of May as bullish.

Weekly – After reaching a contract high of 2110, the trade pressures are up but showing some negative divergence. Volumes remain bullish.

Daily – Short. A close below 2078 triggers the new short entry. Trade pressures are up but turning down. Volumes changed from bullish to bearish on Friday, June 10th.

The next target down is 2025.

Stops at the 2110 highs.

[6/13/16: lower stops to the entry price of 2078.]

[6-15-16: stopped out at the 2078 stops.]

 

Market Pressures_

The “shock” of the low jobs data on Friday causes the interest rate estimates to drop.

All Metals rallied hard. Seem oversold for the moment.

Crude at a profit target. Natural Gas testing a prior high pivot.

The US 30yr Treasury futures are near contract highs.

The US dollar futures responded to the jobs report by dropping two dollars into a new downtrend.

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S&P 500 Futures_

Monthly – Up against the 2100 highs. Trade pressures are up. Volumes closed the month of May as bullish.

Weekly – After the prior week’s big run this week held the highs despite the jobs report. Trade pressures are up but declining. Volumes remain bullish.

Daily – Flat. In the move up from the 2072 long entry. Trade pressures are extended up. Volumes remain bullish (even Friday was net bullish).

The next target up is the 2105 high pivot and the 2115 profit target.

A close below 2073 would signal lower.