Market Pressures_

Copper remains the long trade. Gold trade has closed. Silver in a pullback.

The Crude Oil long trade was stopped out. Nat Gas looks higher.

The Japanese negative rates have sent trades to the US 30yr TBond.

The US Dollar futures are also stronger.

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S&P 500 Futures_

Monthly – This rally takes away the likelihood of a short confirmation close. Trade pressures are neutral pointing down. Volume closed the December month as bearish, but January is shaping up to be bullish.

Weekly – Trend remains down. Support has been confirmed at 1814. Trade pressure are down.Volumes are bullish.

Daily –  Long. In the long trade from the 1872 long entry price. Following up with reasonable stops. Trade pressures are still down but rising; Near neutral now. Volumes have changed to bullish.

The next profit target up is 1982. Stops at the 1872 entry price.

[Feb 3, 2016: stopped out at breakeven.]