#emini #spfutures #SP500 #ES

Market Summary:

Copper is a long trade.  Gold and Silver should rise with the new inflation fears.

The Crude met resistance at the 200 day MA. Natural gas rises.

The US 30yr Treasury Bond long restarts, but ten year yields rise on the renewed inflation fears.

The US Dollar futures are now long after retracement, and responding to the rising rates.

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S&P 500 Futures (Sept contract)

Monthly – A close at new highs at 4590. Trade pressures remain up. Volumes closed the month of June as bullish. The next target up is 4961. A close below 4279 would confirm any weekly move lower.

Weekly – The weekly has turned to a long as the 4512 entry is triggered. Trade pressures are still up. Volumes remain bullish. The 4558 target up is offering resistance. A close below 4407 is needed to confirm any daily move lower.

Daily – Long, from the 4428 long signal off the May lows on 7/11.  Trade pressures are up but declining. Volumes are now neutral at the end of the week. The next target up 4673. In overbought territory at 4575; but the breakout continues.

A new short entry is nearby at 4508. A retracement target down is 4467 could afford a buy of the dip. The expected oversold level is now 4360. Tight stops.

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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 2023 year.

The Navellier portfolio stocks closed down 35% for the 2022 Year.

Portfolio values closed unchanged at approximately $118,000. The Year-to-Date portfolio performance is now up 18%.

 

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