Market Pressures_

Copper has pulled back to possible support, Gold and silver have moved down in response to the rise in interest rates and a the North and South Korean peace efforts.

Crude oil is consolidating after a two week run. Natural gas was stopped at the downtrend resistance line.

The US 30 year Treasury Bond has moved up off the February lows.

The US Dollar futures have broken above the March $90 high pivot.

___________________

S&P 500 Futures_

Monthly – In the move down from the 2662 short confirmation level. Trade pressures are up but continue the rollover. Volumes closed the Month of March as neutral. The next target down is 2304. Need a close above the old high at 2883 to confirm any weekly move higher.

Weekly – In the move down from the 2803 short confirmation. Trade pressures are down but rising to the neutral zone. Volumes are neutral. The next target down is 2569. Need a close above the 2796 to confirm a daily move higher.

Daily – Flat. The retracement down started after the break of the 2568 short entry was triggered. Trade pressures have risen into the neutral zone. Volumes are neutral, indicating equal buying and selling volumes.

Price stopped short of the 2590 expected downside target. The prior long entry of 2615 acted as support and produced the ensuing three day move up.

Any follow thru of the on the upside should retest the prior resistance at 2718.

The time cycle started with the February lows should end in this first week of May and could be the setup for a new leg up to test the strength of that 2718 resistance. If this fails then those lower targets at 2590 and 2560 can be met quickly.

Based on the pressures both these scenarios are equally likely. The hourly pressures are up.

The Navellier Top 5 Stocks have dropped IPGP and Added BA. This virtual portfolio has given up the prior gains in line with the market averages. The Expected sales increases and the expected earnings gains for these stocks all out-pace the market averages.