#emini #spfutures #SP500 #ES

Market Summary:

Copper is looking higher.  Gold is over the overbought levels. Silver is a new long entry.

The Crude is near oversold levels. Natural gas July contract long was stopped out at a gain.

The US 30yr Treasury Bond June contract remains a long but near resistance; expect some consolidation or retracement.

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

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S&P 500 Futures (June contract)

Monthly – 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 3084. A close above 4204 would confirm any weekly move higher.

Weekly – The weekly has reversed to a short after closing below 4032. Trade pressures are down into the neutral zone. Volumes are now bullish. The next target down remains 3822. A close above 3998 would confirm any daily move higher.

Daily – Long. A new long trade is signaled at the 3944 level on 3/17. Trade pressures are up. Volumes are bullish. The next target up is 4049. Overbought is 3989. A close below 3941 would signal lower. Oversold is 3805. With the two entries close together, wait for a trade pressure bullish reversal in the lower time frames.

[3/19 Long at 3962.] [3/20/23 stopped out in the Asian overnight markets for a loss.]

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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 attempting to move above the 4000 level. Values vacillated around $102,000. The Year-to-Date portfolio performance remains 2%.

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