Market Pressures_

The month of August is usually a month of low volumes and higher volatility. No exceptions this year.

Copper has retreated to a downside target and looks lower. Gold has stopped out the long trade for a loss. Silver is pressing down.

Crude oil is still in the long trade and profitable. Natural Gas had a very good week, trading up thru the 2.79 long entry an now near the 3.00’s.

The US 30 year Treasury bond has held above the long stops and is attempting a rally.

The US Dollar futures have rallied off the $94 support line with pressures suggesting higher. Metals and Treasuries will be affected.

___________________

S&P 500 Futures_

Monthly – Remains in the uptrend. Trade pressures are up. Volumes closed July as bullish.

Weekly – in the weekly move up set at the late April close. Trade pressures are up.Volumes remain bullish.

Daily – Flat. The daily price is reacting to resistance at the 2188 upside profit target. Trade pressures are up but diverging. Volumes have changed from bearish to neutral.

A close below 2153 will signal lower.