S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is signaling lower; following the equity markets. Gold and Silver rally off recent lows.

Crude is trapped in a $3 range and natural gas is basing off the 2.57 lows.

The US 30 year Treasuries have rallied back to the short entry price.

The US Dollar futures are zipping through old highs.


S&P 500 Futures

Monthly – Remains in the move down from the 2730 short confirmation in October 2018. Trade pressures are up into the neutral zone. The next target down is 2372. A close above the 2900 level would confirm a weekly move higher.

Weekly – The 2818 level has stopped the rally for the moment. Trade pressures are up. Volumes are bullish. The next target up is 2970. But need to get through the 2818. level first and decisively. A close below 2664 would confirm any daily move lower.

Daily – Five days lower after trade/recession/political worries. Next quarter S&P earnings projections are getting reduced which is the real problem for the market. lower growth gets translated into lower PE multiples.

The next target up remains the 2818 level.

A close below 2696 would signal lower.

Trade resolution can act as a catalyst both up and down.


Navellier Top 8 РDown with the market. The $100,000 model portfolio value is now  approximately $114,000.

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

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