#emini #spfutures #SP500 #ES

Market Pressures_

Copper breaks out with the jobs report and the equity market. Gold and Silver decline. Gold remains long. Silver is stopped out.

Crude oil has had a run up to the first target and is over bot. Natural gas is now over sold.

The US 30 year Treasury future is in a new move down.

The US Dollar futures are testing the entry for a new move up.

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S&P 500 Futures_

Monthly – A new high but a lower close. Trade pressures are up. Volumes closed the month of November as bullish. A close below 2937 would confirm any weekly move lower.

Weekly – Still in the move up from the 2943 long entry. Trade pressures are up but extended. Volumes are bullish. The next target up is 3213. A close below 3030 would confirm any daily move lower.

Daily – Long. The close above the 3141 long entry price signals higher. Trade pressures are up. Volumes are bullish. The next target up is the prior high if 3155 and then 3256.

The weekly is extended so the move seems to be limited; so, tight stops.  Look for the weekly to roll over. A close below 3095 would reverse the trade to short.

[12-12-19: Trade deal? Raise stops to the 3141 breakeven.] [12-12-19 PM: Roll DEC to MAR sell Dec at 3167, Buy MAR @ 3169]

[12-13-19: Raise stops to the entry price @ 1369. All the news is out. sell at the 3180 resistance.]

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Navellier Top 8 Stocks – This Top 8 model portfolio began the year at $100,000 has been up this week rising to approximately $114,000, or up about 14 percent for the year-to-date, but is still trailing the major averages.

 

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