Market Pressures_

• Copper  went to the 2.77 target and pulled back. Gold is looking a bit stronger, needs to break thru the weekly resistance.. Silver is grinding higher but also at weekly resistance.
• Crude is stuck in the 51-54 channel. Natural gas is in a steady move down.
• The US Treasury futures are in a small move up in price, but support is nearby and could be broken.
• The US Dollar futures are in neutral territory.

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S&P 500 Futures_

Monthly – In the move up from the 2153 long confirmation. Trade pressures remain up. Volumes closed the month of January as bullish. The next monthly target up is 2766. A close below 2127 would confirm a new move down.

Weekly – In the move up from the 2016 2045 level. Trade pressures are up and trending. Volumes are bullish. The next weekly target up is 2487. A close below 2276 would confirm a move down.

Daily – Flat. In the move up from the 2275 long entry. Trade pressures are up and extended. Volumes remain bullish.

At the 2351 target, expect consolidation and retracement here. The next target up is 2413.

This low volume market is concerning. A close below 2312 would signal a new move down.