Market Summary_

• Copper is in a retracement down. Gold and silver are at or near a new short entry.
• Crude is pulling back to the lower bound of the 52-54 range.  Look for a break or a bounce there. Natural Gas is at weekly downside targets so look for some consolidation.
• The US Treasury Bonds have made an attempt to go higher in price but the FED rate hike talk has stopped the move.
• The US Dollar futures have trended higher on the same FED talk, but sold off on Friday. The rate hike should cause the dollar futures to rise, unless the market interprets the dollar rise sufficient to choke off trade and growth.

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S&P 500 Futures_

Monthly – In the 5th month of this move up. Trade pressures are up and trending. Volumes closed the month of February as bullish. The next target up is 2768. A close below 2180 would confirm a new move down.

Weekly – Six weeks of an up move. Trade pressures are up and trending. Volumes are bullish. The next target up is 2487. A close below 2328 would confirm a new move down.

Daily – Flat. In the move up from 2275. Trade pressures are up but rolling over. Volumes have changed to neutral (distribution).

The next target up is 2413-2427.

A close below 2362 could signal a new move down. 2323 is short term support.