Market Pressures_

Copper continues the move down to the 1.88 levels. Very oversold.

Precious metals are in a pullback.

Crude oil is in the well publicized free-fall. There are multiple targets nearby suggesting consolidation.

The long natural gas trade stopped and is pulling back.

30 yr Treasury bond futures have moved up sharply to the 160 area.

The US Dollar seems to lose momentum.

Be Alert.

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S&P 500 Futures_

Monthly – The Monthly is below the monthly confirmation of a short. Will see if closes there. Trade pressures are neutral. Volumes are bearish.

Weekly – Short since the close below 2038 in early November ’15. Trade pressures are down. Volumes are bearish.

Daily – Flat. The short entry for this move was 2048; which was missed. Now at the 1890 extended profit target. Expect consolidation here. Trade pressures are extended down. Volumes are mixed bullish to bearish, closing bearish.

Need a close above 1908 to signal a retracement higher.