Market Summary:

Copper crashes on new punitive tariffs.  Gold continues down out out of the July bear flag. Silver down off the 38.91 highes.

Crude rallies off the consolidation after the June move down.  Natural Gas move up fails, selling continues.

The US 30yr Treasury rallies after the CPI report on July 17th. The 10yr yields now in the 4.30’s.

The US Dollar did move lower, but now in another long trade.

_________________

S&P 500 Futures   #ESU25

Monthly –Monthly bar another new all time high. Trade pressures remain in the neutral zone, but rising. Volumes closed the month of June as bullish; again on lower volumes.  The 6335 price remains the new adjusted high. The next target up is 6506. A close below 5907 would confirm any weekly move lower.

Weekly – The weekly bar continues above the trendline of the recent highs, which is now acting as support.  Trade pressures are up. Volumes remain bullish.  The next target up is 6536.  A close below 6127 would confirm any daily move lower.

Daily – Flat. Still in the move up from 6082 on 6/24. Stopped out of the long trade at 6267 on 7/7.  Trade pressures are up.  Volumes are neutral.

The next target up is 6526. Still very OB.  The expected overbought level rises to 6426.

A close below the April Trendline at 6230 would signal lower. The expected oversold level rises to 6257.

__________________