Market Summary:

Copper consolidating after rally.  Gold moves up sharply and breaks the bull flag. Silver backtested the breakout, then breaks out of the downtrend.

The Crude breaks above the resistance line.  Natural gas basing.

The US 30yr Treasury Bond slow uptrend now with the 10yr yields coming off the recent highs.

The US Dollar futures correcting in the upward channel and now at the bottom band.

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S&P 500 Futures   #ESM24

Monthly – February produces new highs. Trade pressures are up just out of the neutral zone. Volumes closed the month of February as bullish.  The next target up is 5233.  A close below 4838 would confirm any weekly move lower.

Weekly – The weekly closes again above the prior week high.  Trade pressures remain up.  Volumes are bullish.  The next target up is 5390.  A close below 5017 would confirm any daily move lower.

Daily – Flat.  Trade pressures are up.  Volumes remain bullish.  The next target up is 5368.  The overbought level rises to 5130; still below the next target up. Again, expect consolidation and retracement – but only getting three days of correction last week.  A close below 5013 would signal lower. The expected oversold level rises to 4966 (rising oversold levels are bullish).

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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 $130,000. The Year-to-Date portfolio performance closed up 30%.

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