#emini #spfutures #SP500 #ES

Market Pressures_

Copper technicals succumbed to the market pressures and dropped hard, as did Gold and Silver. But all recovered late in the week after some campaign tariff talk. Hard to see a quick resolution.

Crude oil and Natural gas futures continue their divergence. Crude points lower and Natural gas is near a new long entry.

The US 30 year Treasury Bond Futures broke lower as the metals rallied.

The US Dollar futures have targets lower. Expect some consolidation here.

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S&P 500 Futures_

Monthly – Closed the month down and in a new short confirmation of the lower time frames. Trade pressures are down. Volumes closed the month of October as bearish for the first time in more than 33 months. The next target down is the 2603 low. Need a close above the old 2947 high to confirm any new weekly move up.

Weekly – In the move down from the 2866 short confirmation level. Trade pressures are down. Volumes are neutral. The next target down is 2610 and then 2402. Need a close above 2880 to confirm any new daily move up.

Daily – Flat. In a new move up from the 2661 long entry level. Trade pressures are up into the neutral zone. Volumes are bullish.

The next target up is 2755 which was touched during Friday’s 500 pt intraday swing.

The prior short entry was triggered at 2769. That level should provide resistance.

A close below 2695 signals lower once again. Set any stops at this level.

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Navellier TOP 5.  Still shedding profits at a rapid rate. Now around $7800 up for the year on the initial $125,000 portfolio. A tough October, but earnings projections for all these stocks exceed their benchmarks. So, waiting out the storm is the current strategy.