Market Summary:

Copper moves into oversold territory.  Gold moves up to 200 day and consolidates. Silver backtesting the breakout.

The Crude test of resistance fails.  Natural gas remains in the downtrend.

The US 30yr Treasury Bond basing with the 10yr yields coming off the recent highs.

The US Dollar futures in the upward channel, but correcting.

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S&P 500 Futures   #ESH24

Monthly – February produces another new highs. Trade pressures are up just out of the neutral zone. Volumes closed the month of January as bullish.  The next target up is 5173.  A close below 4812 would confirm any weekly move lower.

Weekly – The weekly closes above the prior week high.  Trade pressures remain up.  Volumes are bullish.  The next target up is 5390.  A close below 4980 would confirm any daily move lower.

Daily – Flat. nVidia moves the entire market higher.  Trade pressures are up.  Volumes remain bullish.  The next target up is 5368.  The overbought level rises to 5115; still below the next target up. Again, expect consolidation and retracement.  A close below 4992 would signal lower. The expected oversold level rises to 4953.

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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 stock values for 2024 closed much higher, at approximately $126,000. The Year-to-Date portfolio performance closed up 26%.

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