Market Pressures_

Copper is giving back all of the prior weeks move up. Gold had a sharp break down. Silver ran up to the expected target and dropped with gold.

Crude Oil is consolidating at expected levels. Natural gas has had a quiet rally.

The US 30 year is in a move up after some consolidation.

The US Dollar futures are back to new highs.

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S&P 500 Futures_

Monthly – Still in the move down from the 2662 short confirmation. Trade pressures are up but turning down. Volumes closed May as neutral. The next target down is 2304 and the 25×5 moving average support is just nearby. A close above 2883 would confirm a weekly move higher.

Weekly – Remains in the move down from the 2803 short confirmation level. Trade pressures are up. Volumes remain bullish. The next target down is the 2589 level. The six week move up has the market near the 2796 level which would confirm a daily move up.

Daily – Flat. In the move up from the 2629 long entry level. Now thru the 2753 upside target level and about to test the 2805 high pivot. Trade pressures are up but turning down. Volumes remain bullish.

The next target up is 2822, which is above the Weekly 2796, the confirmation of a daily move up.

A close below 2735 would signal a retracement. However the 25×5 moving average is nearby at 2747, so will watch for any breakdown at those levels.

The Navellier Top 5 have paused after the steady climb for the month of June.