Market Summary:

Copper moves up off support but sustains weekly selling volumes. Gold and Silver off supports as well and consolidating.

Crude breaks out of downtrend resistance and is a new long.  Natural Gas breaks still lower.

The US 30yr Treasury does breakout above Bull Flag.
The 10yr yields trade above 4.15%.
The expected oversold level for the 10yr yield rises to 4.10%

The US Dollar trading higher; does break above 200 day MA.

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S&P 500 Futures   #ESH26

Monthly –Monthly bar at new highs. Trade pressures remain up. Volumes closed the month of December as bullish.  The 7017 price is the new adjusted high.  A close below 6706 would confirm any weekly move lower.

Weekly – The weekly bar breaks back above the trendline resistance.  Trade pressures are down into the neutral zone. Volumes have turned bullish, but on very low volumes.  Price above the prior high pivot at 7013. The support trendline is at 6893. A close below 6663 would confirm any daily move lower.

Daily – Long. In the new move up from 6969 on 1/9/26.  Trade pressures are up. Volumes are bullish.

The next target up is 7087. The expected overbought level declines to 6977.

A close below 6971. Set 6971 as the SL. The expected oversold level rises to 6855.

[OB/OS trend is narrowing.]

[1-12-26: Stopped out of the long trade at 6971.]

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