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Market Pressures_

Copper rallies with the dollar drop. Gold and silver are near a new long entry.

Crude oil continues in the move up. Natural gas rallied 20 cents off the 2.84 lows.

The US 30 year Treasury Bond is at a downside target and may rally with the dollar decline.

The US Dollar futures are in a move down creating opposite reactions in the equities and the commodities.

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S&P 500 Futures_

Monthly – In the move up from the 2152 long entry in early 2017. Trade pressures are up. Volumes closed the month of August as bullish. The next monthly target up is 3383. A close below 2726 would confirm any weekly move lower.

Weekly – New Yearly highs. Trade pressures are up. Volumes are bullish. At the 2927 target. The next target up is 3234. Expect consolidation here. A close below 2867 would confirm any daily move lower.

Daily – Flat. In the move up from the 2754 level and at the 2938 upside target. Trade pressures are down. Volumes are bearish.

The next target up is 2988.

A close below 2886 would signal lower.

Expecting consolidation here. The projected earnings for the S&P 500 constituent stocks is $178; applying a 15-17 multiple to that suggests a fair value of 2700 to 3000 on the S&P 500 for 2018.

The Navellier Top 5 stocks pulled back this week, but earnings projections remain positive.