Market Summary:

Copper OS and in new move up.  Gold breaks out of the new bull flag. Silver consolidating after the move higher.

Crude moves sharply hoigher on the Iran=Israeli conflict.  Natural Gas now consolidating.

The US 30yr Treasury expect yields lower. The 10yr yields now in the 4.40’s.

The US Dollar still basing near two year lows.

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S&P 500 Futures   #ESU25 (Contract rolls Monday)

Monthly –Monthly bar above prior month month high but selling off. Trade pressures remain in the neutral zone. Volumes closed the month of May as neutral; on lower volumes.  The 6233 price remains the adjusted high. The next target up remains 6196. A close below 5811 would confirm any weekly move lower.

Weekly – The weekly bar is above the October median line which is acting as support for now.  Trade pressures are up. Volumes remain bullish.  The next target up is 6193.  A close below 5714 would confirm any daily move lower.

Daily – Flat.  Stopped out of the long trade. The close below 6050 has signal lower.  (Look for some price improvement to enter short.)  Trade pressures are up, but have turned down hard, to near the neutral zone. Volumes finished the week as bearish.

This move down has created a second lower high and a new 2hr downtrend. The next target down is 5998. The expected oversold level rises to 5890.

A close above 6082 would signal higher. The next target up is 6092. The expected overbought level rises to 6040.

[Any new short will have a SL of 6082.]

[6-16-25: A retracement pivot was created, then the Monday trade down thru 6072 was the short entry. SL at 3082 remains.]

[6-19-25: Lower SL to 6027. A close above 6073 would signal higher.]

[6-20-25: Stopped out at 6027. Flat.]

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