Market Pressures_

Copper remains in a move down. Gold is in a long trade. Silver is consolidating around the $20 price.

Crude has triggered a new long entry. Natural gas is testing support at the 2.47 level.

The 30 year Treasury Bond is in a long trade but finding the going volatile.

The US dollar futures are in the $95-$96 trading channel.

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S&P 500 Futures_ ESU16  #eminfutures

Monthly – Remains in the long term uptrend. The multi-year cycle is nearing a new long entry; need a monthly close above 2178. trade pressures are up. Volume closed the July month as bullish.

Weekly – Now at a cluster of three upside targets. Expect consolidation here and a possible retracement. Trade pressures are up but showing divergences. Volumes remain bullish.

Daily – Flat. Near the the 2188 upside target; that combined with all the weekly resistance makes any new move up difficult. Trade pressures have risen up from the neutral zone. Volumes remain bullish.

A close below 2149 would signal lower. That same 2149 is a downside target for a small retracement, so the decision will depend on the trade pressures at that level.

Low volume August days are difficult to trade. Be careful.