S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper retracing inside the longer cycle move up. Gold and silver also in retracement.

Crude oil has pulled back after the breakout into the new move up. NaturalĀ  gas makes a move off the lows.

The US 30 year treasury bonds ran to the 156 highs and now are selling off on the employment report.

The US Dollar futures are moving back up after the selloff, as money flows come to the US markets.

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S&P 500 Futures_

Monthly – All time highs. Trade pressures are up. Volumes closed the month of June as bullish. The next target up is 3406. A close below 2785 would confirm any weekly move lower.

Weekly – At the 2986 upside target level. Expect some consolidation here. Trade pressures are up. Volumes are bullish. The next target up is 3048. A close below 2878 would confirm any daily move lower.

Daily – In the move up from the new long entry at 2969. Trade pressures are up. Volumes are bullish.

The next target up is 3057.

A close below 2950 would signal lower.

The comment about not trusting the relief rally, turned out to be wrong as new all time highs were made. Still, the volumes were holiday volumes. The next weeks action will help gain some confidence in this move up.

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Navelleir Top 8 Stocks – The $100,000 model portfolio is now up to slightly less than $117,000. This 17% return for the first half of 2019 is a slight out performance of the S&P 500 for the same time period. The portfolio does include some hi-dividend stocks that don’t move to much.

 

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

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