#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in the move down. Gold rallied on the uncertainty of the new tweets. Silver looks lower soon.

Crude oil is in the move down but a new long entry is nearby. Natural gas continues the slow decline.

The US 30 Year Treasury Bonds are at contract highs and could be poised for a new short entry.

The US Dollar futures are in a retracement after making these new highs.

_________________

S&P 500 Futures_

Monthly – Starting the new August month with a down note. Trade pressures are still up. Volumes closed the month of July as bullish. The next target up is 3408. A close below 2802 would confirm any weekly move lower.

Weekly – A week of retracement off the recent highs. Trade pressures are up. Volumes are bearish. The next target up is 3048. A close below 2901 would confirm the daily move lower.

Daily – Short. In the move down from the 2974 short entry. Trade pressures are down. Volumes are bearish. At the June low pivot; expect some small retracement up here, but the next target down is 2884. The following 2798 target would all but eliminate the entire June -July rally.

A close above 2983 would restart the move up. Move the stop to the 2950 level.

Hard to time these incoherent “tweet” driven markets.

[8-5-19: Lower stops to the 2874, taking profits at this level.]

__________________

Navellier Top 8 Stocks – This Top 8 model portfolio began the year at $100,000 and is now approximately  $112,000. This is a significant drop but still leaves the portfolio up nicely for the year. The new addition Insperity (NSP) caused at least half of the decline missing the earnings expectations disappointing the market and dropping 30 points.

 

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