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S&P 500 Futures Buy-Sell Levels

|Includes: SDS, ProShares Ultra S&P 500 ETF (SSO)

Market Pressures_ #tradesummary

  • Copper avoided the sell stop and rallied past resistance. Gold started a second leg up from the 1205 entry level. Silver ground higher, but seems to be running out of momentum.
  • Crude oil still in the 51-54 channel. Looking for a breakout either way. Crude closed Friday near the upper bound.
  • Natural Gas remains in sell mode.
  • The US Treasury bonds are trying to rally price. But the US Dollar futures are rallying and that would put downward pressures on the bond price and upward pressures on rates.

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S&P 500 Futures_ #eminifutures #spfutures

Monthly - Remains in the move up off the 2152 monthly long confirmation. Trade pressures are up and trending. Volumes closed the month of January as bullish for the tenth month in a row. 2788 is the next monthly target up. A close below 2094 would confirm a new monthly move down.

Weekly - Have reached and exceed the 2305 target. Trade pressures are up and trending. Volumes remain bullish. Much higher targets at 2487 and 2512. A close below 2243 would confirm a new move lower.

Daily - Flat. This slow grind up from the beginning of the year has finally resulted in a breakout to the upside. Trade pressures are up. Volumes remain bullish.

The 2307 long term target in place since last summer was reached. The next target up is 2351.

A close below 2278 will signal lower.

Additional disclosure: The Author may have long or short positions in any of the securities mentioned.