#emini #spfutures #SP500 #ES

Market Summary:

Copper’s is basing.  Gold in the steady decline, but Silver is holding at the 200 day MA; however, with still downward pressures.

The Crude continues the move to the upside; took profits at 84, looking toppy. Natural gas in the move down.

The US 30yr Treasury Bond attempted a rally, but now lower. It does appear to basing.

The US Dollar futures in the move up.

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S&P 500 Futures #ESU23

Monthly – The 4634 prior weekly close remains resistance. Trade pressures remain up. Volumes closed the month of July as bullish. The next target up is 4961. A close below 4323 would confirm any weekly move lower.

Weekly – The weekly continues the move lower. Trade pressures are still up. but are turning down. Volumes are now bearish. The close below 4437 confirms the daily move lower. The next target down is 4213. A close above 4591 would confirm any Daily move higher.

Daily – Short. In the move down from the 4533 short signal on 8/3.  Trade pressures are down. Volumes remain bearish. The next target down is 4230. The expected oversold level is 4345. A close above 4378 would signal higher. The expected overbought level is 4475.

[8-18-23: Stopped out at 4504.]

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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 down 3% at approximately $106,000 with the $100 crash in Super Micro. The Year-to-Date portfolio performance is now up 6%.

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