S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in a new move up. Gold remains in the move up but with a short entry nearby. Silver is also consolidating and near a new short entry.

Crude Oil is in a retracement move higher after the larger move down. Natural Gas is in a retracement move up.

The US 30 year Treasury Bonds are at new contract highs.

The US Dollar futures are the beneficiary of inflows looking for safety and yields.

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S&P 500 Futures

Monthly – In the move up from the 2904 new long entry. Trade pressures are up, Volumes closed the month of July as bullish. The next target up is 3408. A close below 2808 would confirm any weekly move lower.

Weekly – The close below 2901 has confirmed the daily move lower. Trade pressures are down into the neutral zone. Volumes are now neutral. The next target down is 2712. A close above 2942 would confirm any daily move higher.

Daily – Flat. In the move lower from the close below 2884 inside the longer cycle move up from the 2845 level. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 2795.

A close above the 2944 pivot would signal higher.

The 25×5 MA at 2950 is resistance and the June low pivot is 2734.

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Navellier Top 8 Stocks – This Top 8 model portfolio began the year at $100,000 and remains  approximately $111,000, or up about 11 percent for the year-to-date, even after the market correction.

 

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

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