Market Pressures_

Copper is down with the rise in the tariffs, but watch for a retracement up. Gold and silver tried to rally last week but failed. Their downtrend continues.

Crude Oil turned lower into a new short position. Natural Gas is not tradeable.

The Us 30 Year Treasury Bonds are in a move up. But, watch for a retracement into earnings.

The US Dollar Futures are consolidating.

_________________

S&P 500 Futures_

Monthly – Fourth month up after the February selloff. Trade pressures are up but trending down. Volumes closed the month of June as bullish. The next target down is 2304. A close above 2883 would confirm any weekly move higher.

Weekly – A steady mover higher after the April lows. Trade pressures are down into the neutral zone. Volumes are now bullish. The next target down is 2580. This week;s close above 2800 has changed the move to an up move with the confirmation of the daily move higher.

Daily – Long. This move up started at the 2740 level. Trade pressure are up. Volume are bullish.

The next target up is 2817.

A close below the 25×5 moving average at 2757 would signal lower.

The Navellier Top 5 improved by about 3% for the week. Earnings reports begin this next week, and Navellier expects positive earnings surprises in his buy list.

[7-19-18: Raise ESU18 stops to 2780.]