Market Summary:

Copper closing the gap to recovery highs. Gold to new highs. Silver rockets to new highs with a $7 up-day.

Crude showing higher lows, but sells off at resistance.  Natural Gas up off lows to test nearby resistance.

The US 30yr Treasury attempting breakout of the Bull Flag.
The 10yr yields trade below 4.15%.
The expected oversold level for the 10yr yield rises to 4.11%

The US Dollar trading lower, need to break the 200 day MA acting as resistance.

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S&P 500 Futures   #ESH26

Monthly –Monthly bar in a move up to test the 7013 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 breaks above the trendline resistance.  Trade pressures are up, but continuing to turn down. Volumes have turned bearish and continue to rise.  The prior high pivot at 7013 is the next target up. The support trendline is at 6676. A close below 6663 would confirm any daily move lower.

Daily – Long. In the long trade from 6852 on 12/19. Took profits into Xmas Day.  Trade pressures are up. Volumes remain neutral.

The next target up is 7087.  The expected overbought level rises to 6954.

A close below 6939 would signal lower. The expected oversold level rises to 6805.

[OB/OS trend is rising.]

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

[12-26-25: There is support at the 6900 level. Watch for possible re-entry in the long trade.]

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