Market Pressures_

Copper has reached the expected downside target of 2.99. Gold rallied thru our new long entry. Silver is at a new long entry.

Crude is in a long trade with tight stops. Crude is event driven, don’t stay too long. Natural gas is showing lower still.

The US 30yr Treasuries are in a retracement up from the long move down. Tight stops here also.

The US Dollar futures are under pressure. Too much talk and tariffs leading to downward revisions in the 1st Qtr GDP. Taking Trillions out of the market seems a very expensive way to get 60 billion extra in net trade from the Chinese?

______________________

S&P 500 Futures_

Monthly – The second month of a decline. Trade pressures are up but for the first time in many months, they are turning down. Volumes closed the February month as neutral.The month is not over but the 2662 confirmation level is likely to signal a new monthly move down.If that happens, the next target down is 2304.

Weekly –  In the move down from the 2803 level. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 2569. A close above 2796 would confirm a Daily move up.

Daily – Flat. In the move down from the 2723 short entry. Trade pressures are down. Volumes are bearish.

The next target down is 2590, then 2457.

A close above 2649, the Friday open, could start a new move up.

Navellier Research is still bullish on his selections and expects the 1st Qtr earnings report season to right the ship. That gives a few weeks of volatility before that happens; need to see some higher lows to be properly encouraged.