S&P 500 Futures Buy-Sell Levels

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Contributor Since 2013

A weekly blog - Technical Analysis with an emphasis on the futures markets to measure pressures on the equities markets. Buy-Sell Levels are produced for selected futures contracts that are used to trade and to measure the pressures on the equities markets.

Summary

  • Copper turned higher and invalidated the short expectations. Gold and silver ran up with the market rise due to trade talks.
  • Crude ran to targets but getting over bot. Nat gas consolidating after the sharp move down.
  • The US 30 Year Treasuries are in a move down.
  • The US Dollar futures are in a move down.

S&P 500 Futures_

Monthly - Five months into this downtrend. Trade pressures are rising into the neutral zone. Volumes closed the month of January as neutral. The next target down is 2372. A close above the 2900 level would confirm any new weekly move up.

Weekly - A break of the downtrend with a move up out of the down sloping pitchfork. Trade pressures are up. Volumes are bullish. The next target up is 2818. A close below 2648 would confirm any daily move lower.

Daily - Flat. Still in the move up from the 2412 level. Trade pressures are up and trending. Volumes are mixed, bearish to bullish. The December high of 2818 is the next target up. A close below the 2679 level would signal lower.

The 60 minute pressures are turning down so perhaps a short correction is in order. Will watch the daily volumes.

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Navellier Top 8 Stocks - The $100,000 virtual portfolio is down to $17,000 this week despite some very good earnings reports. On Monday Chicago Mercantile Exchange Grp (CME) will be replaced with Keysight Tech (KEYS) and Medifast (MED) will replaced with Arbor Realty (ABR).

[The author may have long or short positions in any of the securities mentioned.]

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