#emini #spfutures #SP500 #ES
Copper is in the downtrend, but could have a retracement move up. Gold and silver are showing some bullish signs.
Crude Oil is in the move down with wide ranging days. Natural gas is showing some small signs of life.
The US 30 year Treasury Bond is moving up despite a slowing of bids in the new issue markets.
The US Dollar futures are in a retracement move down.
S&P 500 Futures_
Monthly – In the move up from the 2904 new long entry level. Trade pressures are up. Volumes closed the month of April as bullish on lower volumes. The next target up is 3406. A close below 2735 would confirm any weekly move lower.
Weekly – In a retracement from the long Christmas move up. Trade pressures are up. Volumes remain bullish even with the sharp move down this past week. The next target up is 2976. A close below 2811 would confirm any daily move lower. The weekly low was 2825, but closed at 2887.
Daily – Flat. In the move up from the 2417 long entry. Trade pressures are down. Volumes are bearish to neutral; suggesting dip buyers.
The next target up remains the 2976 level. A close below the 2842 level would signal lower. The market traded below these levels but did not close below.
Navellier Top 8 Stocks – The $100,000 model portfolio is now at $115,000 for the Year to Date.
[The author may have long or short positions in any of the securities mentioned.]