Market Pressures_

Copper is looking lower.

Gold has made a nice move up; perhaps more to go.

The Crude oil move up has stalled. Need a new signal.

The 30yr T-Bond is attempting a new move up; watching for a volume signal.

The $US (DX) is influencing all these markets.

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S&P 500 Futures_

Monthly – The adjusted upside target is 2203. A confirmation of a short is now the 1896 level. Trade pressures are down. Volume ended in August as bullish.

Weekly- In a confirmed down move. Trade pressures are down but rising. Volume turned back to bearish after four weeks of consolidation. 1822 is the next target down.

Daily – Flat. Stopped out of the short trade from 1952 at 1924.  The next target down is 1843. Trade pressures are extended down. Volume has changed to bearish.

The directional changes are rapid so watching the 60 minute charts. The intraday target was 1895 and is now a likely support area. If the oversold condition resolves itself it could be from this area. Need a bullish change in indicators and a close above 1942 to start a new move up.