#emini #spfutures #SP500 #ES

Market Pressures:

Copper is setting up for a new long entry. Gold and silver are consolidating; working off over bought pressures.

Crude oil is consolidating and appears oversold. Natural gas is consolidating after the short entry was triggered.

The US 30 year Treasury is looking lower.

The US Dollar futures are over sold.

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S&P 500 Futures_

Monthly – Moved up off the confluence of the 2008-2020 trendline and the 3695 downside target. Trade pressures are down but rising. Volumes closed the month of July as bearish. The next target down is a retest of 3695. A close above 4275 confirms any weekly move higher.

Weekly – In the move up off the 3639 low pivot. Trade pressures are down but rising to the neutral zone. Volumes are bullish. The next target down is the 3639 pivot. A close above 4313 would confirm any Daily move higher.

Daily – Flat. In the move up from the channel breakout on 7/20. Trade pressures are up. Volumes are bullish. The next target up is the May 32st pivot at 4204. Equity indices are overbought. A close below 4105 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 last week portfolio value moved down sharply with commodity prices. The value moved down to approximately $68,000. The Year-to-Date portfolio performance is now down 32%.

 

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