Market Summary:

Copper retraces below the 200 day MA, now rallies to open a new long.  Gold rallies in retracement, consolidating at the 200 day MA.  Silver breaks down after the sharp rally; breaks below the 200 day MA.

The Crude fails support, looking for a new long entry.  Natural gas downtrend showing signs of basing.

The US 30yr Treasury Bond reached upside target of 120-22.  Expect consolidation and retracement.

The US Dollar futures move out of downtrend.  Pressures still rising, now in the neutral zone.  .

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S&P 500 Futures   #ESH24

Monthly – December trades above the November highs. Trade pressures remain down into the neutral zone. Volumes closed the month of November as neutral.  The next target down is 4073. This November close above the upper median line (UML) confirms the weekly move higher. Expect consolidation and a back-test (4460) of the breakout. The next target up is the 4736 prior high.

Weekly – The weekly continues the move up off the 4310 long entry on 11/03 and has closed above the 44639 upside target.  Trade pressures are now up.  Volumes have closed the week as bullish again.  The next target up remains the upper median line at 4697.

Daily – Flat, the move up after the break above the 4475 (adjusted) long entry on 11/10 continues.  Trade pressures are up.  Volumes remain bullish.  Friday closed again above the September and October highs at 4660.  The next target up is 4657.  A close below 4543 would signal lower.  Multiple resistance levels just higher at 4700.  Expect consolidation and retracement at 4700.

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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 $109,000. The Year-to-Date portfolio performance is now up 9%.

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