S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in a pullback after meeting profit targets. Gold is a new short. Silver is stopped out of the long trade.

Crude is a new short. Nat Gas has met profit targets.

The US 30 Year Treasury Bond is looking for a new long trade.

The US Dollar futures are at the top end of a trading range.


S&P 500 Futures_

Monthly – Still in the move down from the 2730 level. Trade pressures are rising into the neutral zone. Volumes closed the month of January as neutral. The next target down is 2372. A close above 2900 would confirm any weekly move higher.

Weekly – Rallied thru and closed below the 2721 upside target. Trade pressures are up in the neutral zone. Volumes have been bullish for the last four weeks. The next target up is 2816. A close below 2588 would confirm any daily move lower.

Daily – Flat. Completed a move down to the 2686 target on the hourly charts. Trade pressures are up. Volumes closed as bullish.

The next hourly target down is 2655.
A close above 2702 would signal higher on hourly.

The daily technical pressures are down. The earnings estimates for the S&P 500 are being lowered by the analyst community. 1Q19 and 2Q19 are down to 2 and 3 percent growth. The 2H19 looks better but is still subject to downward revisions.


Navellier Top 8 – The $100,000 virtual portfolio is up $14,000 for the YTD. The portfolio companies have reported good 4Q18 earnings and positive guidance for the upcoming quarters. As the average earnings expectations for the general market are reduced by analysts, these better fundamentals will be increasingly attractive to the fund managers.

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

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.