Market Pressures_  #tradesummary

• Copper in a downtrend and moving side ways over to the downtrend line. Gold consolidated at the 1129 target lows and is approaching a new long entry. Silver is down and in consolidation at the 15.69 level.
• Crude is up against the weekly downtrend resistance with targets in the 57’s. Natural gas reached the upside targets and is in a retracement.
• The US Dollar futures are retracing after reaching the 103 highs. US 30yr Treasury bond futures are approaching a new long entry.

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S&P 500 Futures_  #eminifutures #spfutures

Monthly – In a new monthly move up from the 2164 confirmation. New highs this month. Trade pressures are up and trending. Volumes remain bullish at the December close and have closed bullish for nine months in a row. A break of 2052 would confirm lower.

Weekly – In the move up from the 2048 long confirmation. Trade pressures are up and nearing indicator highs. Volumes have changed to neutral. Jan 13th is a Fib time extension target.

Daily – Flat. Still in the move up from the election. Trade pressures are down into the neutral zone. Volumes closed the last trading week of the year as bearish in very light trading.

The next target up is 2283 which would be roughly equivalent to the DOW 20,000 level.

A close below 2233 is the new short signal and the market closed just above that level.

However, It is best to let the market reset after a low volume Christmas holiday. One small business  channel check from BW indicates that the December holiday sales might be much better than expected.