Market Summary:

Copper support held then big rally.  Gold continues rally. Silver breaks above the bull flag, but can’t move beyond the upper median line.

Crude support fails.  Natural Gas finds resisitance at the uptrend median line parallel.

The US 30yr Treasury Bond in a move up off the 110 lows. The 10yr yields now around 4.50%.

The US Dollar is a long again.

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S&P 500 Futures   #ESH25

Monthly –Monthly bar contained within the Median line parallels from October 2022. Trade pressures remain up. Volumes closed the month of January as bullish.  The 6181 price remains the high. The next target up is 6633.  A close below 5870, would confirm a weekly move lower. The next target down would be 5523.

Weekly – The weekly has another lower close.  Trade pressures remain down. Volumes remain bullish. This weeks close has formed another lower high. A close below 5867 would confirm any daily move lower.

Daily – Flat. The previous short found support at the low 5900’s, then attempted a new move up which met the same resisitance at the downward trendline from the December 6181 high at 6067 on 1/31.
Trade pressures are down again to the neutral zone.  Volumes are now bullish.
Use this rally to short a move below 6030. The next target down is 5992.
A close above 6075 is also required to start a new move up.

The expected oversold level declines to 5977.
The expected overbought level declines to 6101.

[2-11-25: Fed Day Wednesday. Short at 6075 with the OB level at 6099. SL at 6123.]

[2-12-25: premarket drops on higher than expected inflation core numbers.  Lower SL to BE at 6075.]
[Rallied to 6075 in the late morning session. Flat.]

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