#emini #spfutures #SP500 #ES

Market Pressures_

Copper moved somewhat to the upper side of the small side ways channel. Gold moved up sharply in a new uptrend. Silver moved up as well but only to the upper end of the downward sloping channel.

Crude held at the 70 downside target and now is retracing upward. Natural gas seems the beneficiary of the disturbance in the oil markets.

The US 30 Year Treasury Bond is moving up off the price lows.

The US Dollar futures are holding the 94 level.

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S&P 500 Futures

Monthly – Retracing in the move up . Trade pressure are up. Volumes close the month of September as bullish. The next target up is the old high at 2947. A close below 2726 would confirm any weekly move lower.

Weekly – In the move down from the 2867 short entry. Trade pressures are down. Volumes are bearish. The next target down is 2739 which was touched this last week. A close above 2855 would confirm any daily move higher.

Daily – Long. The sharp down move of last week went thru the 2789 profit target level. Te subsequent lows of 2712 then set up a new long entry at 2770. Trade pressures are down but turning up. Volumes are neutral indicating short covering.

The next target up is 2864. This is a retracement  move up inside the larger move down.

A close below the 2753 level would signal a resumption of the move down.

Set the initial stops at 2753; move them to the 2770 entry price as soon as practicable.

[10-17-18: AM. Raise stops to the breakeven at 2770.]

[10-18-18: Raise stops to the 10-17-18 lows at 2780.]

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The Navellier TOP 5 portfolio was hit hard this last week, but remains up About $19,000 for the year.