#emini #spfutures #SP500 #ES

Market Pressures_

Copper is finding support at the short entry price. The gold short was stopped out. Silver is pulling back inside a longer term move up.

Crude is in a new long trade, but at resistance. Natural Gas is seeking a bottom.

The US 30 year Treasuries are moving side ways after a test of the 144 support.

The US Dollar futures are in a pullback after rallying to near the 96.77 level.

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S&P 500 Futures

Monthly – In the second month of a rally off the Christmas lows. Trade pressures are down but rising. Volumes closed the month of January as neutral. The next target down is 2372. A close above the 2900 level would confirm any weekly move higher.

Weekly – Seven weeks up in this rally. Trade pressures are up. Volumes are bullish for four of these weeks. The next target up is 2818. A close below the 2628 level would confirm any daily move lower.

Daily – Flat. The close of 2778 is at the weekly upper median line which should act as resistance. Trade pressures are up but showing some divergence. Volumes are bullish and bearish. The markets are all driven by events, or the hope of events; not a healthy situation.

The 60 minute long signal at 2702 yielded 75 points of a move up which would have been sold at the 2721 profit target. The next target up is the 2818 prior high pivot.

A close below the 2660 level would signal lower.

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Navellier Top 8 – The $100,00 virtual portfolio is now up by more than $19,000. A 19% year would be considered a superior return. One could be forgiven for taking the profit and waiting for lower prices. But the Top 8 will be adjusted throughout the year by replacing those companies that have moved out of their respective value ranges by other opportunities with better metrics.

{The author may have long or short positions in any of he securities mentioned.]