#emini #spfutures #SP500 #ES

Market Summary:

Copper is a long trade.  Gold and Silver need a pullback toward the 200 day MA.

The Crude broke thru to the upside, support now at the 200 day MA. Natural gas rises.

The US 30yr Treasury Bond long fails once again.

The US Dollar futures are now at resisitance.

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S&P 500 Futures #ESU23

Monthly – Another close at new recovery highs at 4634. Trade pressures remain up. Volumes closed the month of June as bullish. The next target up is 4961. A close below 4323 would confirm any weekly move lower.

Weekly – The weekly is in the long trade from the 4512 entry. Trade pressures are still up. Volumes remain bullish. Thru the 4558 resistance. A close below 4452 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 4581.

A new short entry is nearby at 4533. A retracement target down to 4497 could signal a buy of the dip. The expected oversold level is now 4465. Tight stops.

[8-2-23: long trade from 4512 stopped out at 4533.]

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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 up slightly at approximately $119,000. The Year-to-Date portfolio performance is now up 19%.

Builders First Choice (BLDR) and Quanta Svcs (PWR) will be replace with DR Horton (DRI) and First Solar (FSLR) at the Monday’s Open.

 

 

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