S&P 500 Futures Buy-Sell Levels

Sep. 22, 2019 11:47 AM ETAutoZone, Inc. (AZO), CCEP, ABR, CSWC, EEFT, NEE, SUI, UI

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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 is in a retracement move down. Gold is consolidating inside the move down. Silver is consolidating inside its move down.
Crude Oil is in the move down. Natural gas is also in the move down.
The US 30 year Treasury Bond is near a new long entry.
The US Dollar futures are in a tight consolidation around the 98 level.

S&P 500 Futures_

Monthly - Remains in the move up. Trade pressures are up. Volumes closed the month of August as bullish. The next target up is 3408. A close below 2808 would confirm any weekly mover lower.

Weekly - In the move from the 2942 new long entry. Trade pressures are rising in the neutral zone. Volumes are bullish. The next target up is 3048. A close bow the 2901 would confirm any daily move lower.

Daily - Flat. In consolidation at these old highs. Trade pressures are up but turning down. Volumes are bearish.

The next target up is the prior high of 3020, then 3072.

A close below 2965 would signal lower.

The 60 minute chart is in the move down already woith a 2979 downside target nearby.

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Navellier Top 8 Stocks – This Top 8 model portfolio began the year at $100,000 has moved up this week slightly to approximately $114,000, or up about 14 percent for the year-to-date which is still trailing the major averages.

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