S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper is looking lower.  Gold is near the overbought levels. Silver is a new counter-trend long entry.

The Crude oil rally has failed and back near the entry. Natural gas July contract long was stopped out at a gain.

The US 30yr Treasury Bond June contract remains a long.

The US Dollar futures are retracing after the resistance at the 200 day MA.


S&P 500 Futures

Monthly – Now below the February lows. Trade pressures are rising but still in the neutral zone. Volumes closed the month of February as neutral. The next target down is 3008. A close above 4169 would confirm any weekly move higher.

Weekly – The weekly has reversed to a short after closing below 3997. Trade pressures are down into the neutral zone. Volumes are now bearish. The next target down remains 3787. A close above 4040 would confirm any daily move higher.

Daily – Short. The long trade was stopped out at a breakeven and the close below 4012 signaled a new short entry. Trade pressures have moved to down. Volumes are now bearish. The next target down is 3817.  3891 is the new oversold level. A close back above 3950 would signal higher. 4034 would be the new overbought level. Set the 3950 new long signal as the SL. [3/12/23 Sunday nite stopped out at 3950.]


Navellier Top 5 Stocks – This Top 5 model portfolio begins each year at $100,000. The Top 5 Growth stocks are tracked throughout each year. This portfolio is marked to the market and is restarted at $100,000 for the 2023 year.

The Navellier portfolio stocks closed down 35% for the 2022 Year.

This week’s market ended with a break below the 4000 level. Values move lower to approximately $102,000. The Year-to-Date portfolio performance is now 2%.

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