Market Summary:

Copper met upside resistance, turned down and immdeiately reversed to recovery highs. Gold choppy, but with an upward bias. Silver’s one day selloff inside the uptrend is reversed immediately to new highs.

Crude showing higher lows, but at resistance.  Natural Gas trying to find support.

The US 30yr Treasury holding support at the 200 day MA.
The 10yr yields trade around 4.15%.
The expected oversold level for the 10yr yield rises to 4.10%

The US Dollar trading up off 97.50 low, but 200 day MA acting as resistance.

_________________

S&P 500 Futures   #ESH26

Monthly –Monthly bar consolidating around 6800 off the 6975 highs. Trade pressures remain up. Volumes closed the month of November as bullish.  The 7013 price remains the adjusted high. The next target down is 6702. A close below 6702 would confirm any weekly move lower.

Weekly – The weekly bar rallies back into the uptrend.  Trade pressures are up, but continuing to turn down. Volumes remain neutral and continue to rise. The upper median line parallel at 6929 acting as resistance.  The prior high pivot at 7013 is the target. A close below 6663 would confirm any daily move lower.

Daily – Long. In the move up off the 6774 prior low pivot on 12/17. New long trade from 6852 on 12/19.  Trade pressures are up. Volumes are now neutral.

The next target up is 6929.  The expected overbought level declines to 6937.

Resistance at 7002. The next target down is 6842. The expected oversold level declines to 6712.

[12-20-25: The OB/OS trend is down, so tight stops. Set the SL at 6826.]

[OB/OS trend is declining.]

[12-20: Despite the downturn, VIX remains in the teens – allowing a “buy the dips” strategy.]

[12-22-25: At the 6929 target. Raise the SL to 6882.]

[12-23-25: Raise the SL to 6916.]

[12-24-25: Sell @ 6961. Done for the year.]

__________________