#emini #spfutures #SP500 #ES

Market Pressures_

Copper is developing a bullish pennant. Gold has had a slow and steady move up but looks extended now. Silver is sideways, maybe one more dip before a move up? Tariff conversations are the key.

Crude Oil futures are in the move down with the equities. Natural gas ran up as the international situation seemed precarious , now in a retracement.

The US 30 Year Treasury Bonds futures are up in a flight to safety.

The US Dollar futures are up sharply, perhaps the same flight to the US markets.

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S&P 500 Futures_

Monthly – In a new move down after the close below the 2726 confirmation. Trade pressures are down near the neutral zone. Volumes closed the month of September as bullish. A close above the old high of 2947 would confirm any new weekly move up.

Weekly – In the move down from the 2867 short confirmation. Trade pressures are down. Volumes are bearish. The next target down is 2610. A close above the 2806 prior long entry would confirm any daily move higher.

Daily – Flat. In the move down from the 2884 short entry. Trade pressures are down, but showing some divergence. Volumes are bullish at the end of the week; no one wants to be short over the weekend.

The next target down is 2599. With this divergence, be alert for a sharp move up if those targets are met.

A close above 2685 would setup a long retracement trade. Stops will be difficult as they will be far away from the entries. Some times just waiting for less volatility is a good trade.

[10-30-18: the spike down to the 2603 low on 10-29 reset the new long entry price to 2661. Price closed above this level. So, look for a pull back to enter a new long near the entry level.]

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Navellier TOP 5 has fared well over these down days; losing profit, yes. But at $14,000 is still up nicely for the 2018 year; while the S&P 500 is down for the year-to-date. The November TOP 5 is now available, with Progressive (PGR) replacing GrubHub (GRUB).

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[The author may have long or short positions in any of the securities mentioned.]