Market Pressures_

Copper is in the move down but should move up with the equity markets. Gold and silver had good rallies in the December swoon but now may sell off.

Crude is showing some signs of a possible move up. Natural Gas is looking for a consolidation level after the rally and the fail.

The US 30 year Treasuries are beginning some consolidation here; may be a correction trade to watch for.

The US Dollar futures are showing the effects of an outflow of dollars and may have a retracement move down in the offing.

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S&P 500 Futures_

Monthly – The 2368 target was touched and now seems to act as support. Trade pressures are down. Volumes closed the month of December as bearish. The next target down is the 2368 level. A close above the 2900 level would confirm any weekly move higher.

Weekly – In the move down from the 2716 short level. Trade pressures are down. Volumes are now neutral. The next target down is 2240. A close above the 2591 level would confirm any daily move higher.

Daily – Flat. In the move up from the 2368 level. Trade pressures are up into the neutral zone. Volumes are now bullish. The next target up is 2535.

The week’s close is up against the lows for the 2018 February selloff.

A close below 2416 would signal lower.

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Navellier Top 8  – SOM is now following the Top 8 stocks recommenced by Navellier Growth Stocks. Last year the portfolio ran up 20 percent early in the year and gave it all back in the last quarter. The Top 8 adds some dividend stocks as a means of reducing volatility.

 

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