Market Summary:

Copper sells off from the 6.15 highs, sustains weekly selling volumes. Gold and Silver off highs as well and consolidating in a bull flag.

Crude is a long, but in a pullback.  Natural Gas continues lower.

The US 30yr Treasury breakout touches the mid 116’s, then sells off.
The 10yr yields trade above 4.20%.  The expected oversold level for the 10yr yield rises to 4.12%

The US Dollar trading still higher.

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S&P 500 Futures   #ESH26

Monthly –Monthly bar off new highs. Trade pressures remain up. Volumes closed the month of December as bullish.  The 7036 price is the new adjusted high.  A close below 6725 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 are bullish, and on rising volumes.  Price above the prior high pivot at 7013. The support trendline is at 6842. A close below 6706 would confirm any daily move lower.

Daily – Long. After the rally to 7036, in the retracement down.  Trade pressures are down. Volumes are bearish.

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

A close below 6962 would signal lower. Set 6961 as the long SL. The expected oversold level rises to 6889.

[OB/OS trend is rising.]

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