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S&P 500 Futures Buy-Sell Levels

|Includes: ProShares UltraShort S&P 500 ETF (SDS)

Market Pressures_ #tradesummary

  • Copper is in a new move up. Gold ran up to its first profit target and is now retracing that move. Silver remains in a long trade.
  • Crude was sold at the first profit target for the June contract. Natural gas is still in the sideways move looking for a new long trade.
  • The US 30 year Treasury Bond is moving up in a new long trade.
  • The US Dollar futures are down and signaling lower.

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S&P 500 Futures_ #emini

Monthly - Remains in the move up. Trade pressures are up. Volume remains bullish. A move below 2183 would confirm a weekly move down.

Weekly - In the move up. Trade pressures are up but declining. Volumes are bullish. A close below 2332 would confirm a daily move lower.

Daily - Flat. The 2383 short level was triggered and met the 2354-2349 targets the second day. Trade pressures are down but turning up. Volumes have changed from bullish to bearish and neutral.

The next target down is 2315.

This snap back rally is retesting the short entry level of 2383. Still in the short until the old high of 2404.50 is broken. So look for a new short entry on the hourly.

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