Market Summary:

The 10yr yields flat. All metals lower. Copper down to lower median line.  Gold down sharply after breaking the lower median line.  Silver back in the channel down after an attempt to break out; support remains in the low 28’s.

Crude got the breakout.  Natural gas lower high signaled the move down.

The US 30yr Treasury Bond continues the move up; but showing resistance. The 10yr yield support levels now steady.

The US Dollar futures continue higher; OB and OS levels continue to trend higher.

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S&P 500 Futures   #ESU24

Monthly – June zips thru the 5504 upside target. Trade pressures remain up. Volumes closed the month of May as bullish.  The next target up is 5958.  A close below 5277 would confirm any weekly move lower.

Weekly – The weekly continues with higher weekly closes.  Trade pressures remain up.  Volumes remain bullish.  Touched the 5575 target up.  A close below 5277 would confirm daily move lower.

Daily – Flat.  The 5/3 rally corrected down to the lower parallel line, then resumed the move up and is now at the confluence of the 5576 upside target and the upper channel boundary. Trade pressures are up.  Volumes are now bearish..  The next target up is 5705. The expected overbought level has risen to 5524; again below the actual highs and below the upside target.    A close below 5447 would signal lower.  The expected oversold level rises to 5336.

[Watch the 5495 MA level, for signs of weakness and possible short]

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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 2024 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.  The portfolio recovered slightly for the week, to around  $129,000. The Year-to-Date portfolio performance is now up 29%.