Market Summary:

Copper still in a retracement down.  Gold near lower channel bound.  Silver continues lower.

The Crude fails new long entry; now making a second attempt.  Natural gas continues the rise in the downtrend.

The US 30yr Treasury Bond in retracement to Median Line. Continue watching 10yr rates, they are at the overbought levels.

The US Dollar futures back above the Median Line. A test of the November downward trendline is next.

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S&P 500 Futures   #ESH24

Monthly – January begins with a selloff. Trade pressures remain down into the neutral zone. Volumes closed the month of December as bullish.  The next target up is 5173.  A close below 4530 would confirm any weekly move lower.

Weekly – The weekly turns down off the 4841 highs.  Trade pressures remain up.  Volumes are now neutral.  The next target up remains 4895.  The next target down is 4701 and would confirm any daily move lower.

Daily – Flat, In the move down after a lower high on 1/2.  Trade pressures are down.  Volumes remain bullish.  The next target up is 4901.  The overbought level is 4782, well below the next target up.  Expect lower.  A close below 4701 would signal lower. The expected oversold level is 4660.

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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.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio values for 2024 closed at approximately $98,000. The Year-to-Date portfolio performance closed down 2%.

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