Market Pressures_

Copper is consolidating with a bias to the upside. Gold and Silver in similar consolidation, but gold still has pressures on the downside, while silver seems to see accumulation.

Crude oil’s upward retracement has failed. The Natural Gas break out is up against resistance.

The US 30 year Treasury bonds are rising as the dollar rises.

The US Dollar futures are in a new breakout above the prior consolidation at 95.

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S&P 500 Futures_ ESU18  #spfutures

Monthly – Remains in the move up. Trade pressures are up but in a decline. Volumes closed the month of July as bullish. The next target up is 2887. A close below 2534 would confirm any weekly move lower.

Weekly – Thru the upside resistance and in a mew move up. Trade pressures are up. Volumes are bullish. The next target up is the old high of 2887. A close below 2734 would confirm any Daily move lower.

Daily – Flat. The drop near the end of the week spurred by currency fears stopped out the long trade with a 109 pt profit. Trade pressures are still up but have declined to near the neutral zone,. Volumes are bearish at the close of this last week.

Technically the move up is still intact. The expected resistance at the 2866 level rejected price. A close below 2803 would trigger a new move lower.

August 23rd is an end of a series of time cycles; so, look for downward pressures into that date.

The Navellier Top 5 are experiencing a sell off despite some good earnings reports. Maybe a “tell” for the market?