Market Summary:
Copper retesting the 4.00 support. Gold vaults out of the bull flag. Silver moves up and out of it’s bull flag.
Crude in a new move up. Natural Gas rally sells off hard.
The US 30yr Treasury Bond is basing; still looking for a long trade entry.
The US Dollar up near overbought levels.
The 10yr yields are 4.41%.
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S&P 500 Futures #ESZ24
Monthly –Monthly bar closes higher, but again off the highs. Trade pressures remain up. Volumes closed the month of October as bullish. The 6019 target was touched and did provide resistance. A break below 5742 would confirm any weekly move lower. The next target down then would be 5395.
Weekly – The weekly has a higher close. Trade pressures are up and rising. Volumes remain low, but now bullish. The next target up 6057 has been met. A close below 5912 would confirm any daily move lower.
Daily – Flat. In a new move up from 5934 on 11/19. Trade pressures are up. Volumes are bullish.
The next target up is 6013. The expected overbought level declines to 6034.
The next target down is 5943 and would be a short entry. The expected oversold level rises to 5865.
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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.
These Navellier portfolio stocks closed:
down 35% for the 2022 Year.
up 17% for the 2023 Year.
Portfolio stock values for 2024. The portfolio value rises to $157,000.
The Year-to-Date portfolio performance is up 57%.
Guidewire Software (GWRE) and Sprouts Farmers Market (SFM) replaced Allstate (ALL) and Coke Industries (COKE) last week.
[The author may be long or short any of these issues mentioned],