#emini #spfutures #SP500 #ES

Market Pressures:

Copper is long in a retracement of the June move down. Both gold and silver are new longs, but watch the dollar.

Crude oil is in a new long after the retracement down. Natural gas is in a new short.

The US 30 year Treasury bond is long and in the second leg of the move up.

The US Dollar futures are consolidating after reaching a weekly target.

______________________

S&P Futures_

Monthly – Building a railroad track, a breakout of the prior month high at 4191 would be significant. Trade pressures are down. Volumes closed the month of June as bearish. The next target down is 3008. A close above 4275 would confirm any weekly move higher.

Weekly – The 3589 support level has held for the time being. Trade pressures are down but rising. Volumes are bullish. The next target down remains the 3589 level. A close above 4313 would confirm any daily move higher.

Daily – Long. The prior trade from 3818 was stopped out at BE 3818 SL. Trade pressures are up. Volumes are bullish. A new long entry was at the 7/20 trend line breakout @3938. 4098 is the new SL. OverBot – Take profits at the 4178 upside target.
[8-1-22: Stopped out at the 4098 SL.]

____________________

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 last week was up and the value moved up to approximately $74,000. The Year-to-Date portfolio performance is now down 26%.

Continental Resources (CLR), Conoco Phillips (COP) and Targa Resources (TRGP) will be replaced with Cenovus Energy (CVE). Quanta Services (PWR) and Sociedad Quimica y Minera (SQM) at the Monday open.

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