#emini #spfutures #SP500 #ES

Market Pressures_

Copper is now in a move down towards the lower channel bound. Gold is the safe haven in all this chaos. Silver is dormant.

Crude is falling below the $50 dollar level as the global economic stability is now is question. Natural gas has given up almost the prior rally and is on the way to closing the gap of that run-up.

The US 30 year Treasury is now in a new move up after the move to the 144 highs.

The US Dollar futures are seeing inflows as the international situation deteriorates.

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S&P 500 Futures_

Monthly – Whatever that trump rally was, is completely gone now. Trade pressures are down. Volumes closed the month of November as bullish. The next target down is 2368. A close above the old highs at 2947 would confirm any new weekly move up.

Weekly – In the second leg down. Trade pressures are down. Volumes are bearish. The next target down is 2385. A close above 2684 would confirm and y daily move up.

Daily – Flat. 5 down days and non-stop negative news from the White House. Trade pressures are down. Volumes are bearish.

A FED interview of a softening of the interest rates decision sent market up 400 points in less than five minutes. But was immediately reversed by political maneuvering, closing down 400 taking out all the prior downside target  levels on the way.

The next target down is 2383. A close above 2460 would signal higher.

The S&P projected earnings are 172 dollars. The net present value of the ten year steam of earnings growing at 8% is 2430, so the market is at fair value here.

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Navellier TOP 5 – Now below breakeven for the year by about $4000. Dexcom (DXCM) will replace Burlington (BURL) on Monday.

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