Market Summary:

Copper Short after new contract highs.  Gold to ATH’s once again; take profits. Silver short, support at 32.43.

Crude consolidating at the 200 day MA.  Natural Gas, Long with a breakout of the small bull flag.

The US 30yr Treasury up to resistance, watch for breakout. The 10yr yields consolidating around 4.25%.

The US Dollar in a month long base now attempting a rally.

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S&P 500 Futures   #ESM25

Monthly –Monthly bar closes continues to test the lower median line from 10/23. Trade pressures remain up, but declining. Volumes closed the month of February as bullish, March will close with bearish volume.  The 6233 price remains the adjusted high. The next target down is 5324. A close above 6065 would confirm any weekly move higher.

Weekly – The weekly bar lower than prior close.  Trade pressures remain down. Volumes are now bearish.  The next target down is 5324. A close above 5728 would confirm any daily move higher.

Daily – Flat. Closed with a sharp move down.  At the 5623 downside target which is a backtest of the 3/24 breakout level. Trade pressures are down.  Volumes are bearish.

The next target down is 5566. The expected oversold level rises to 5566.

A close above 5729 would signal higher; then 5793.  The expected overbought level rises to 5795.

(Still looking for a bear market rally, usually volatile and short lived. Watch the 5623 level for signs of support.)

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