#emini #spfutures #SP500 #ES

Market Pressures:

Copper is still a long trade. Gold and Silver spiked with the Russian Invasion only to be hit with aggressive selling.

Crude Oil had a similar spike only to also retrace. Natural gas had a much lower spike and is now looking lower.

The US 30 year Treasury is in a new long trade. It is a counter trend trade so tight stops.

The US Dollar futures are the safe have trade and is looking higher also.

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S&P 500 Futures_

Monthly – Dropped hard to the 4101 level then rose sharply to the 4380 level. Trade pressures are up but declining. Volumes closed the month of January as bearish. The next target up is 5018. A close below 4252 would confirm any weekly move lower.

Weekly – In the move down from the 4505 short entry. Trade pressures are down. Volumes are bullish. The next target down is 4059. A close above 4485 would confirm any daily move higher.

Daily – In the move up from the 4189 new long entry which was created by the spike down to 4101. Trade pressures are down but rising. Volumes are bullish. The next target up is 4474. A close below 4294 would signal lower.

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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 2022 year.

The portfolio stocks closed up 39% for the 2021 Year.  This week was up after severe turbulence at approximately $84,000. The Year-to-Date portfolio performance is now down 16%.

Fortinet (FTNT) will be replaced by Endava (DAVA) at the open on Monday.

 

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