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S&P 500 Futures Buy-Sell Levels

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

Market Pressures_

  • Copper has rallied into a new long trade. Gold is now a short trade and the previous Silver long position has been stopped out with a fair gain.
  • Crude is now consolidating at a profit target with more targets lower. Natural gas may test the February lows.
  • The US 30 year Treasury Bonds have turned down into a new short position.
  • The US dollar futures are still looking lower.

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S&P 500 Futures_ ESU17 # eminifutures

Monthly - The 16 month long uptrend continues. Trade pressures are up. Volumes closed the June month as bullish. 2222 is the confirmation level for any Weekly move down.

Weekly - Another new high. Trade pressures are up and slightly rising. Volumes remain bullish. 2371 is the confirmation level of any Daily move down.

Daily - Flat. A wide ranging day, perhaps signifying an change in trend or at least indecision. Trade pressures are up but turning down. Volumes remain bullish and closed the week on high volume.

Still in the move up, with the next target up at 2474.

A close below 2424 would signal lower. Watch the intraday moves for further indications.

Might want to tighten stops on any US equity long trading positions.

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