S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper breaks out of the 2.89-2.94  channel to test the 2.99 target and then immediately falls back into the channel. Gold and Silver remain in the move down.

Crude oil is in consolidation at the 64.91 target. Natural gas breaks down below the 2.57 lows.

The US 30 year Treasuries are in the move down as rates rise marginally.

The US Dollar futures are in a sharp move up as the retail numbers came in better than expected,


S&P 500 Futures_

Monthly – Above the 2904 long confirmation level. Trade pressures are up. Volumes closed the month of March as bullish. The next target up is the old high at 2951. A close above the 2904 would confirm any weekly move higher.

Weekly – In the move up from the longer cycle 2592 long entry. Trade pressures are up. Volumes are bullish. The next target up is 2976. A close below the 2765 level would confirm any daily move lower.

Daily – Flat. In the new move up fro m the 2862 long entry trigger. Trade pressures are up and trending. Volumes are bullish.

The next target up is 2976.

A close below 2802 would signal lower.


Navellier Top 8 – The $100,000 model portfolio drops back to $118,000 for the year-to-date. The earnings reports have generally been good, but Atlassian lowers the next quarter projections and stock price drops.


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

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