Market Summary:

Copper Flat, in pullback.  Gold and Silver consolidate at downside targets.

Crude setting up for a new long.  Natural Gas a new move up.

The US 30yr Treasury stopped out of long trade.
The 10yr yields trade above 4.10%. The expected oversold level for the 10yr yield rises to 3.95%

The US Dollar pulls back after 10yr yield rises.

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S&P 500 Futures   #ESZ25

Monthly –Monthly bar trading corrects off new highs. Trade pressures are up. Volumes closed the month of October as bullish on rising volumes.  The 6953 price remains the adjusted high. The next target up is 7148. A close below 6643 would confirm any weekly move lower.

Weekly – The weekly bar declines to support at 6655.  Trade pressures are up. Volumes are now bearish. The next target up is the upper median line parallel at 6937.  A close below 6604 would confirm any daily move lower.

Daily – Flat. In the corrective move down; channel forming a bull flag. Need a trade above 6800 to break out of the bull flag. Trade pressures are down. Volumes were bearish early in the week, but turned bullish at the Friday close.

Supports failed. The next target down is 6603. The expected oversold level rises to 6799.

A close above 6754 would signal higher. 6790 is resistance. The expected overbought level declines to 6941.

[OB/OS trend is widening.]

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