Copper is down but looking for a reason to go higher.

Gold is looking for a bottom as well.

The dollar is in a short trade.

The 30yr T-Bond has reached it’s target and the trade is flat.

Crude (WTI) is in a long trade with targets a few dollars higher.

Nat Gas is confusing.

The summer trade is always going to be event driven. So Greece is still a headline and makes for some action in the currencies and maybe the crude oil contracts as well.  The FED news with any indication that the interest rates might change will create a nice move in the long bond.

S&P Futures_ [Sep contract changes targets.]

Monthly – Trade pressures remain up. Volume is bullish. the next target up is 2182.

Weekly – Trade pressures are down. Volume has changed from neutral to bullish. The next target up is 2246.

Daily – Trade pressures are up. Volume has changed from bullish to bearish. The downward pressures of time end the 19th of June.

Price has bounced each time at the 80 day moving average and Friday closed just on top of that same average.  The 2087 price seems to be a pivot. While the market can break either way from here, the bias seems to be up.

[Monday morning open is down and below the 80 day. A test of last week’s lows is in order. The next target down is 2049 and the May lows.]