#emini #spfutures #SP500 #ES

Market Summary:

Copper failed to follow thru and was stopped out. Gold long was stopped at 1701. Silver is new short entry.

Crude oil is in the production cut rally. Natural gas continues the retracement.

The US Treasury Bond attempted a rally but the ten year note rally, after the unemployment report, has stopped that move.

The US Dollar futures have resumed the move up.

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S&P 500 Futures_

Monthly – Retracing the week’s move up. Trade pressures are down. Volumes closed the month of September as bearish. The next target down is 3008. A close above 4208 would confirm any weekly move higher.

Weekly – In the move down from the late August 4053 short entry. Trade pressures are down. Volumes are bearish. The next target down is 3181. A close above 4206 would confirm any daily move higher.

Daily – Flat. In the move up after the 3734 long entry on 10/4. Trade pressures are up into the neutral zone. Volumes are now bearish. The next target up is a revisit of the long entry at 3734 ( 3694 on the one hour charts). A close below 3637 would signal lower. 3552 is the oversold level.

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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’s market closed with a retracement after a two day rally . The portfolio value increased almost 10% to approximately $75,000. The Year-to-Date portfolio performance is now down 25%.

On Monday, Cenovus Energy (CVE) and Occidental Petroleum (OXY) will be replaced by Petroleo Brasileiro (PBR) and Sociedad Quimica y Minera (SQM).

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