Copper and the precious metals have failed to move higher amidst new ECB easing.
Oil and Gas have turned down as well. Crude may signal a new short trade.
The 30 yr Treasury Bonds signaled a new short entry.
The US dollar (NYSE:DX) turned higher testing the upper bound of it's yearly channel.
S&P 500 Futures.
Monthly - the 25x5 moving average has acted as support these last three months. Trade pressures are down. The month close of the Volume was neutral. The monthly target up is 2203. The monthly target down is 1538.
Weekly - The 1822 target which was reached with the sell off in August has turned out to be the low. Trade pressures are up. Volume is Bullish. A close above 2094 will confirm the move up. The next weekly down side target remains 1640.
Daily - Flat. In the move up from 1908 clearing all the prior targets including the 2051. The extended target of 2113 is the next projection. Trade pressures are up. Volume is bullish.
Additional disclosure: Author may have long or short positions in any of the securities mentioned.