S&P_ the Monthly and weekly remain in the upward trend. the next weekly target is 1767.

the daily moved down to the 1640 target and restarted the move up from there.

the older 1725 target and the recent 1726 high was taken out and the market moved on to the 1748 target.
we are currently consolidating at this level.
The next target up is 1770.

a move down thru 1734 would signal a correction to the 1700 level.

the December contract is now the front month. This causes some targets to adjust.

the lack of FED tapering had given a boost to the inflation hawks. the metals had a big move up and the dollar had a similar move down.
the stock market is viewed as inflation hedge  and is valued at a discount to future earnings.
so if interest rates stay down, then the discounted value of earnings producing assets appear more valuable.

very loosely;  FED down>dollar down> metals up> stocks up (the nice thing about stocks is that the earnings can go up also)

Monthly- the 1709 target is the next up. and two higher targets are in the 1800’s
Weekly – the next target up is 1767.
the 1633 short entry was tested and now the bounce off that has taken us above the 1698 pivot.
watch any move down at these two levels, the 1698 pivot and the prior short entry of 1633.

the daily trade is down from the short entry of 1707. the next target down is 1677. [friday update: a 1676 morning low]

a move back up thru 1719 will signal higher.

Monthly Pressures are extended up.
weekly pressures are extended up and showing some negative divergences.

the Daily trade is up from the 1660 long entry.
the next target up is 1716 with expected resistance at the 1705 recent high.

daily pressures are up.

the next short entry is 1671.

[Sunday Nite 9/15 Update: December Futures up  to 1703.
new short entry is 1684.

the monthly target of 1716 has provided resistance.

the weekly is testing the short entry of 1639.
weekly pressures are down.

the daily trade is at two targets, 1626 and 1624.
pressures are still down but the this support has held for 3 days.

a further break down takes price to the next target of 1596.

need a new move up thru 1660 to restart the move up.

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$$’s coming into the US dollar and the treasuries. the DJ Euro STOXX and the China 25 are in a sell off.

Transports are down but that move maybe finished.
Small caps look susceptible to another leg down.Dow 30 weak and still moving down to the 14667 target.

S&P 500 looks stronger than other markets but watch for a “wash and rinse’ of the stops below in the Tuesday morning trading.

Monthly – the next target up is 1716.

Weekly – the 1709 high seem to be in place.
a move down thru 1639 is the weekly short entry with a target of 1532.
trade pressures are down.

the Daily trade is down with the next target of 1626 and then 1609.
trade pressures are oversold, so a bounce to upside is likely.

a trade above 1667 would setup a test of the highs and a trade of 1725.
but the longer term downward trade pressures would seem to limit any real upside.

Monthly_
upward pressures and a 1716 target above.

Weekly_
upward pressures and at the 1684 target, consolidating.

Daily_
time pressures are up. trade pressures are down but over sold.
need to trade above 1695 to activate the 1706-1711 target area.

The short entry is 1672, with a downside target 1636.

 

 

Monthly_ pressures remain up. the next target up is 1716.

Weekly_  testing the prior targets of 1664 and the pivot high of 1681.
trade pressures remain up, but momentum is decelerating.

Daily_ the daily is at the 1674 target and near the prior high.
trade pressures are beginning overbought. the next targets up are 1706-1711.

a move below 1644 will signal a new move down to 1596.

time pressures suggest a move down between now and July 29th.
with all the upper time frame pressures pointing up, don’t expect a too much of a correction.

Monthly pressures remain up, the 1594 target is acting as support.
Time pressures remain up thru 11/29.

Weekly_ in the trade down from 1615. the next target down remains 1509.

The Daily trade is up from 1589 to first 1612, then to 1649.
need to see if the 1612 resistance will stop the move up.  if it does then the weekly 1502 target is more likely.

Time pressures will turn down on July 4th thru July 29th.
trade pressures are up.

S&P_

price spiked thru the monthly target of 1645 but closed below and held.
the weekly target of 1684 held also.

the weekly short entry of 1618 was tested twice before a close below. the next target down is 1509.
weekly trading pressures are down and time pressures remain up thru July 15th.

the Daily trade is down. the 1558 target has been met and is providing support.
1502 is the next target down.

a retracement up is likely here, a move up thru 1589 could retest the 1649 pivot.
if price can’t get above 1612 then another move down becomes more likely.

Daily pressures are turning up.

S&P_

the monthly trade pressures are still up.
the 1664 target was met an the failed spike up tried to get to the 1715 target.

the weekly trade pressures have just turned down.
traded through the short entry, but closed above it. a possible rejection of the short entry and a retest of the highs could be next.

the daily trade is still down.
the first target of 1606 was met; provided support and the new long entry of 1640 was tested but the market did not close above.
this next week will give us the next move.

the next target down is 1558. the next target up 1693.