#emini #spfutures #SP500 #ES

Market Summary:

Copper attempted a rally but none.  Gold and Silver breakout with the middle east fighting

The Crude has turned up. Natural is in a retracement after overbought.

The US 30yr Treasury Bond is now a cautious long.

The US Dollar futures has turned up once again, perhaps a safe haven trade.

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S&P 500 Futures #ESZ23

Monthly – Monthly in the move down but with a “spinning top”. Trade pressures remain down into the neutral zone. Volumes closed the month of September as bullish. The next target down remains 4025. The close below 4373 had confirmed the weekly move lower.

Weekly – The weekly has reached the downside target of 4280 and for the moment it is holding. Trade pressures are down. Volumes have closed the week as bullish. The close below 4583 confirmed the daily move lower. The next target down is 4030. A close above 4476 would confirm any Daily move higher.

Daily – Flat. Rallied to test the prior resistance at 4320 and failed.  Trade pressures are down. Volumes remain bullish. The next target down is still 4124. The expected oversold level is 4201. A close above 4423 would signal higher.  Watching to see what the 4304 level offers as support. There is confluence at the 4304 , the 200 day MA and the lower median line around 10/23. The expected overbought level is 4396.

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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 at approximately $105,000. The Year-to-Date portfolio performance is now up 5%.

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