#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in a retracement move down. Gold is making another run to 2000. Silver is in a new move down.

Crude oil is still in a tight range between 40-42. Nat Gas is in a second leg up in the new move up.

US 30yr Treasuries continue the move up with the new stimulus on the horizon.

The US Dollar futures are at the downside target and have attracted some short covering.

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S&P 500 Futures_

Monthly – Continues the grind higher. Trade pressures are up. Volumes closed the month of July as bullish. The next target up is 3389. A close below 2905 would confirm any weekly move lower.

Weekly – Second week of consolidation at the 3230 target level. Trade pressures are up. Volumes are bullish. The next target up is the prior high at 3375. A close below 2998. would confirm any daily move lower.

Daily – Flat. Attempted a move lower but rallied at the end of the week to get back into the rising channel. Trade pressures are up. Volumes are bullish. The next target up is 3375. A close below 3120 would signal lower. Both weekly and daily volumes remain bullish, so the odds favor higher.

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Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The Top 5 portfolio stocks rose with the market during this last week. The portfolio stocks are up 5% for the week and valued at approximately $110,000, now up 10% for the YTD. We may match the 13% gains from these first two months of 2020; but would do well to remember the down 32% lows of March. The portfolio fundamentals continue to be important as the market narrows.

Clorox (CLX, Nvidia (NVDA) and VIP Shop (VIPS) will be replaced in the portfolio by Genmab (GMAB), Quidel Corp (QDEL) and Zoom (ZM) at the Monday open.

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