Market Summary:

Copper is a new long.  Gold long from the 8/22 breakout.  Silver breaks above 40.

Crude a new long, remains near OB levels.  Natural Gas breaks out of the move down.

The US 30yr Treasury down on an uptick in inflation projections.
The 10yr yields stay in the 4.20’s. The expected oversold level for the 10yr yield is 4.19%

The US Dollar breaks the lower channel support. Tariffs are the new question?

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S&P 500 Futures   #ESU25

Monthly –Monthly bar trading again above the prior month high. Trade pressures rising just above the neutral zone. Volumes closed the month of July as bullish.  The 6523 price is the new adjusted high. The next target up is 6630. A close below 6212 would confirm any weekly move lower.

Weekly – The weekly bar continues to make new highs.  Trade pressures are up. Volumes remain bullish.  The next target up is 6630.  A close below 6325 would confirm any daily move lower.

Daily – Long. In the new move up from 6465 on 8/26.  Trade pressures are up.  Volumes remain bullish.

The next target up is 6526. The expected overbought level rises to 6534.

A close below 6459 would trigger a short entry.  The expected oversold level rises to 6348.

[OB/OS trend now rising. But reaction to tariff court decision will be important.

[8-31-25: Raise the SL to 6460.]

[9-1-25: sun session. Stopped out at the 6460 SL.]

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