#emini #spfutures #SP500 #ES

Copper, gold and silver in a trading range at the lows that reflects the inverse and  topping action in the dollar futures.

Crude has met the 50.55 down side target. Natural gas spiked higher and is now in retracement.

The US 30 year Treasury bonds futures continue the move higher, but at some resistance levels now.

The US Dollar futures are in a small retracement down with the larger uptrend.

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S&P 500 Futures_

Monthly – In the move down from the 2726 confirmation level. Trade pressures are down into the neutral zone. Volumes closed the October month as high volume bearish. The next target down is 2603 and then 2368. A close above 2947 would confirm any new weekly mover higher.

Weekly – In the move down from the 2867 short confirmation level. Trade pressures are down but rising. Volumes are bearish. The next target down is 2610 which tests the February lows for a second time. A close above 2880 would confirm any new daily move higher.

Daily – Flat. In the move down from the 2737 short entry level. Trade pressures are down. Volumes are bearish. The next target down is 2606. There is multiple target levels just below which allows for some expectation of support, but if they fail, then the 2476 downside target comes into play.

A close above 2664 would signal higher.  [11-27-18: Use tight stops @2653.]

[11-28-18: Raise stops to the 25×5 MA @2713. The next target up is 2758.]

[11-29-18: selling at the 2758 target.]

The end of the year selling is higher than expected, perhaps there will be news of some forced selling in the larger hedge funds as redemption requests come in.

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The Navellier TOP 5 – The Major equity averages are now negative for the year. The Navellier Top 5 are just above breakeven; enjoying some small out-performance.

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