Market Summary:

Copper in a new move up after the pullback to 5.70. Gold and Silver up, both at ATH’s.

Crude is a long, moving higher after the pullback.  Natural Gas stages a complete reversal higher.

The US 30yr Treasury in a new move up from 114-24.
The 10yr yields continue above 4.20%.  The expected oversold level for the 10yr yield rises to 4.16%

The US Dollar sells off on the “Sell America ” trade.

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S&P 500 Futures   #ESH26

Monthly –Monthly bar showing indecision. Trade pressures remain up. Volumes closed the month of December as bullish.  The 7036 price remains the adjusted high.  7208 is the next target up. 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 6715. A close below 6685 would confirm any daily move lower.

Daily – Long. Tested the 6818 support and now in a new move up from 6881. Trade pressures are up. Volumes are bullish.

The next target up is 6984. [Watch for a lower high at 6984.] The expected overbought level rises to 7039.

A close below 6922 would signal lower. The expected oversold level declines to 6825.

[OB/OS trend is widening.] Increasing volatility.

[Set 6922 as the long SL.]

[1-25-26: Stopped out at the 6922 SL in the overnight session. New SL at 6955.]

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