#emini #spfutures #SP500 #ES

Market Pressures:

Copper is retracing the early October move up. Gold can’t get moving even in the face of inflation. Silver has moved to  the 62% target and is retracing.

Crude oil is starting a retracement. Natural gas is in a downward channel.

The US 30 Year Treasury is testing the upside resistance.

The US Dollar futures are also testing upside resistance.

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S&P 500 Futures_

Monthly – Now at the 20 year regression channel upper bound. Trade pressures are up. The October volumes closed as bullish. The next target up is 5018. A close below 4047 would confirm any weekly move lower.

Weekly – In the November 2020 move up from 3524. Trade pressures are up. Volumes are bullish. T the 4599 target. The next target up is 5468. A close below 4317 would confirm any daily move lower.

Daily – The upward channel has not yet formed. A touch at 4633 would confirm. Trade pressures are up. Volumes are bullish. The next target up 4604, very close, and would signal a new leg up. A close below 4520 would signal lower. 15 min VIX is down to the channel lows; expect consolidation or retracement.

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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 2021 year. This portfolio has been marked to the market and restarted at $100,000 for the 2021 year.

The portfolio stocks gained $10.000 over the last week leaving to approximately $140,000, up 40% for the 2021 YTD.  The portfolio had a brief touch of the $150,000 value in early March 2021, then a low of $100,000 a few weeks later, and rose once again above 50% in early September. October earnings reports seem to provide some relief.

BioNTech (BNTX) and Johnson Controls (JCI) will be replaced by Crocs, Inc. (CROX) and EPAM Systems (EPAM) on Monday morning at the open.

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