S&P 500 Futures

Market Pressures_

Copper is in a move up. Gold is at upside targets; Silver as well.

Crude is in a new move up. Natural Gas slides even lower.

The US 30 year Treasury Bond is signaling a new move lower.

The US Dollar futures are 2% off the highs.

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S&P 500 Futures_

Monthly – Touched the potential short entry early in the month but quickly rallied off that to these new highs. Trade pressures are up. Volumes closed the month of May as bearish and on large volume. The volume so far this month seems to be decidedly lower. The next target up is 3408. A close below the 2735 level would confirm any weekly move lower.

Weekly – In the new move up from the 2878 entry level. Trade pressures are up but declining. Volumes are bullish. The next target up is 3048. A close below 2806 would confirm any daily mover lower.

Daily – Flat. At the May highs of 2969 which are the expected targets. Trade pressures are up. Volumes are bullish.

The next target up is 3114. But,expect consolidation here.

A close below 2913 would signal lower. The 60 minute charts are already in a new move down from 2958 with a 2925 downside target.

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Navellier Top 8 Stocks – The $100,000 model portfolio has moved back up nicely; now slightly over $114,000 for the year to date.

 

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

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