#emini #spfutures #SP500 #ES

Market Summary:

Copper is in new uptrend.  Gold is now short. Silver was stopped out.

The Crude is back into the down channel. Natural gas rallies.

The US 30yr Treasury Bond long trade is testing the 200 day MA resistance.

The US Dollar futures now short and showing a long bias.

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S&P 500 Futures (Sept contract)

Monthly – A close above the 4300. Trade pressures remain up. Volumes closed the month of May as bullish. The next target up is 4961. A close below 4183 would confirm any weekly move lower.

Weekly – The weekly long on 3/31 at 4052 moves above the 4300 target. Trade pressures are still up. Volumes remain bullish. The next target up is 4558. A close below 4294 would confirm any daily move lower.

Daily – Long. In the move up from the reversal at 4192 on 5/26 to long. The 6/2 break above 4250 starts a new uptrend. Trade pressures are up. Volumes remain bullish. At the 4473 target; expect retracement here.  Overbought is now 4441. A break below 4392 would signal lower. The next oversold level is 4211.

Raise the SL to 4392.

[6-23-23: Short at the 4392 level. SL 4427.]

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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.

Portfolio values moved up to approximately $114,000. The Year-to-Date portfolio performance is now up 14%.

 

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